Daily Chart Report ? Thursday, September 22nd, 2022
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Today’s Summary
Thursday, September 22nd, 2022
Indices: Dow -0.35% | S&P 500 -0.84% | Nasdaq 100 -1.17% | Russell 2000 -2.26%
Sectors: Health Care was the only sector that closed higher, gaining +0.53%. Consumer Discretionary lagged, dropping -2.31%.
Commodities: Crude Oil futures moved higher by +0.68% to $83.50 per barrel. Gold futures rose +0.22% to $1,679 per ounce.
Currencies: The US Dollar Index inched lower by -0.07%.
Crypto: Bitcoin gained +4.13% to $19,227. Ethereum rose +5.78% to $1,319.
Interest Rates: The US 10-year Treasury yield rose to 3.718% – its highest in more than a decade.
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 Ian McMillan (@the_chart_life). September has been living up to its reputation as a troublesome month for stocks. Ian points out that this recent leg lower began at the end of August when the major indices failed to hold above their June highs. As we know, failed breakouts are often followed by sharp moves lower, and that’s exactly what we’ve seen since. All three of the major indices shown above are down more than 10% in the past month. At this point, all eyes are on the June lows in the major indices. If those levels fail to hold, it will be a major issue.
Quote of the Day
“Recognizing bear markets and appreciating and respecting their devastation is one of the most important things you can learn.”
– Fred McAllen
Top Links
Stocks: The Good, The Bad, and The Ugly – Beat the Bench
Scott Brown highlights three stocks from each of the 11 sectors that are either good, bad, or ugly.
Daily Volatility Needs to Calm to Draw Back Equity Buyers – Andrew Thrasher
Andrew Thrasher offers his perspective on volatility.
Today is Showing a Short-Term Oversold Reading, Says Fairlead Strategies’ Stockton – CNBC
In this clip, Katie Stockton shares her thoughts on the S&P 500, Apple, and more.
Gold Bulls Don’t Want to See a Breakdown Here! – Kimble Charting Solutions
Chris Kimble points out that Gold is testing an uptrend line that dates back 20 years.
Gold to Silver Ratio Plummeting – Bespoke
Bespoke takes a look at the Gold/Silver Ratio.
Top Tweets
You’re all caught up now. Thanks for reading!