Daily Chart Report ? Tuesday, September 6th, 2022
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Today’s Summary
Tuesday, September 6th, 2022
Indices: S&P 500 -0.41% | Dow -0.55% | Nasdaq 100 -0.72% | Russell 2000 -0.96%
Sectors: 4 of the 11 sectors closed higher. Real Estate led, rising +1.04%. Communications lagged, falling -1.24%.
Commodities: Crude Oil futures were flat and continue to trade at around $86.88 per barrel. Gold futures fell -0.56% to $1,713 per ounce.
Currencies: The US Dollar Index rose +0.59% to a fresh 20-year high.
Crypto: Bitcoin dropped -4.22% to $18,952. Ethereum fell -2.29% to $1,581.
Interest Rates: The US 10-year Treasury yield rose to its highest level since mid-June at 3.351%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Aaron Jackson (@ATMcharts). It's a daily candlestick chart of the Consumer Discretionary sector ($XLY) over the past year. This is the 3rd largest sector in the S&P 500 behind Technology and Health Care. The 5 largest stocks in this sector include; Amazon, Tesla, McDonald's, Home Depot, and Nike. Aaron points out that Consumer Discretionary is testing a potential support zone around $153-$157. This level represents the June highs and the 50-day moving average. The S&P 500 already broke below its June highs and its 50-day moving average. Will the Consumer Discretionary sector follow suit? Or, will buyers defend this key level? Either way, this is going to be an important test to watch this week.
Quote of the Day
"The problem with most people who play the market is that they are not flexible."
- Marty Zweig
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Top Links
Nasdaq Declines for 7th Straight Day - Bespoke
Bespoke examines the 7-day losing streak in the Nasdaq Composite.
The Worst Year Ever - The Irrelevant Investor
Michael Batnick shows that 2022 has clearly been an outlier year so far.
Bullish Divergences Build in Energy Market - Andrew Thrasher
Andrew Thrasher takes a look at the Energy sector.
Store of Value - The Compound and Friends
In this podcast, Josh Brown and Michael Batnick sit down with JC Parets to review some of the most important charts out there.
Trendlines Over Headlines with Special Guest, John Roque | Part Deux - The Chart Report
Catch up on the latest episode of Trendlines Over Headlines! In this week's episode, John Roque of 22V Research returns to the show to discuss the current state of the markets.
Top Tweets
You’re all caught up now. Thanks for reading!