Daily Chart Report ? Friday, September 30th, 2022
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Today’s Summary
Friday, September 30th, 2022
Indices: Russell 2000 -0.61% | S&P 500 -1.51% | Dow -1.71% | Nasdaq 100 -1.73%
Sectors: Real Estate was the only sector that closed higher, gaining +1.07%. Consumer Discretionary lagged, falling -1.97%.
Commodities: Crude Oil futures dropped -2.14% to $79.49 per barrel. Gold futures rose +0.20% to $1,672 per ounce.
Currencies: The US Dollar Index gained +0.36%.
Crypto: Bitcoin fell -0.71% to $19,452. Ethereum fell -0.78% to $1,326.
Interest Rates: The US 10-year Treasury yield rose to 3.833%.
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 Matt Fox (@topstockcharts). It's a weekly candlestick chart of the S&P 500 over the past two decades. The S&P 500 just logged its third straight quarterly loss for the first time since 2008. Matt points out that it's currently testing its 200-week moving average for the first time since the pandemic. We actually closed slightly below it today, so buyers will need to show up soon if we're going to have a 2011 or 2018 scenario. If we extend below it, it will be a major red flag. Either way, keep an eye on how this test plays out in the coming weeks.
Quote of the Day
“Today is the first day of the rest of your life.”
- Charles Dederich
Trendlines > Headlines
https://youtu.be/xRZNDB1wDUY
Check out the latest episode of Trendlines over Headlines!
In this week's episode, Jeffery Hirsch, Editor of the Stock Traders Almanac joins us to discuss October Seasonality, the 4-Year Presidential Cycle, and more!
Top Links
Understanding Bear Markets and Setting Expectations - StockCharts.com
Arthur Hill points out that the S&P 500 often continues lower after hitting the -20% threshold.
Will Stocks Crash in October? Or Will October Be a Bear Killer Once Again? - Carson Group
Ryan Detrick takes a look at how stocks have historically fared in October.
Will Commodities Hold? - All Star Charts
Ian Culley examines the outlook for Commodities.
NYSE Composite Highlights Painful Bear Market for Investors! - Kimble Charting Solutions
Chris Kimble explains why the NYSE could fall another -10% from here.
Top Tweets
You’re all caught up now. Thanks for reading!