Daily Chart Report ? Monday, September 19th, 2022
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Today’s Summary
Monday, September 19th, 2022
Indices: Russell 2000 +0.81% | Nasdaq 100 +0.77% | S&P 500 +0.69% | Dow +0.64%
Sectors: 8 of the 11 sectors closed higher. Consumer Discretionary led, gaining +1.20%. Real Estate lagged, falling -1.09%.
Commodities: Crude Oil futures rose +0.71% to $85.36 per barrel. Gold futures fell -0.31% to $1,678 per ounce.
Currencies: The US Dollar Index inched lower by -0.05%.
Crypto: Bitcoin rose +0.44% to $19,505. Ethereum gained +3.37% to $1,380.
Interest Rates: The US 10-year Treasury yield rose to its highest level since 2011 at 3.492%.
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 Victor Riesco (@Global_Trader). It’s a daily candlestick chart of the High Yield Bond ETF, $JNK, over the past year. High Yield or ‘Junk’ Bonds have been acting as a leading indicator for Stocks all year. Victor points out that while Treasuries have violated their June lows, $JNK is refusing to do the same. This is a glimmer of hope for the bulls, but the line in the sand is clear. If it eventually breaks support (around $90), it would be a big red flag for the broader market. Either way, this will be an important one to watch this week.
Quote of the Day
“Listen to what the market is saying about others, not what others are saying about the market.”
– Richard Wyckoff
Top Links
5 Charts to Pay Close Attention to This Week – PFT Trading
Greg Rieben highlights five key charts to watch this week.
A Growth Problem for US Stocks – Means to a Trend
Austin Harrison looks at the tug of war between Growth and Value.
Monday Morning Playbook: Week of September 19 – Beat the Bench
Scott Brown lays out some important technical developments to keep an eye on this week.
Silver Divergence. Wait, What? – All Star Charts
JC Parets points out that Silver is diverging from Gold.
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Top Tweets
You’re all caught up now. Thanks for reading!