Daily Chart Report ? Tuesday, September 13th, 2022
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Today’s Summary
Tuesday, September 13th, 2022
Indices: Russell 2000 -3.91% | Dow -3.94% | Nasdaq 100 -5.54% | S&P 500 -4.32%
Sectors: All 11 sectors closed lower by more than 2.5%. Energy led, but still fell -2.52%. Communications lagged, dropping -5.49%.
Commodities: Crude Oil futures fell -0.54% to $87.31 per barrel. Gold futures dropped -1.33% to $1,717 per ounce.
Currencies: The US Dollar Index jumped +1.58%.
Crypto: Bitcoin tumbled -10.10% to $20,141. Ethereum dropped -7.20% to $1,592.
Interest Rates: The US 10-year Treasury yield rose to 3.410%.
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 Frank Cappelleri (@FrankCappelleri). It’s a daily bar chart of the S&P 500 over the past two months. Today was the worst day for the S&P 500 in more than two years, with the index sliding -4.32%. Frank points out that today’s big drop occurred at a key level around 4100-4200. We’ve seen several reversals around that 4100-4200 level this year, so it’s clearly an important battleground for buyers and sellers. The risk is to the downside as long as we’re below it.
Quote of the Day
“Bull markets are about making progress.
Bear markets are about preserving capital.”
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Top Links
Can Anything Slow US Dollar Currency Strength? – Kimble Charting Solutions
Chris Kimble takes a look at the relentless strength of the US Dollar.
Breadth Doesn’t Get Much Hotter – Bespoke
Bespoke points out that the 5-day A/D line was at an extreme heading into today’s large drop.
Don’t Fight the Trend – All Star Charts
Ian Culley highlights some noteworthy trends in the currency market.
Volatility Spikes as SPX Nears 3900 – The Final Bar
In this video, David Keller and guest, Dave Landry break down the current market environment.
Top Tweets
You’re all caught up now. Thanks for reading!