Daily Chart Report ? Monday, October 10th, 2022
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Today’s Summary
Monday, October 10th, 2022
Indices: Dow -0.32% | Russell 2000 -0.60% | S&P 500 -0.75% | Nasdaq 100 -1.02%
Sectors: 4 of the 11 sectors closed higher. Consumer Staples led, gaining +0.36%. Energy lagged dropping -2.05%.
Commodities: Crude Oil futures fell -1.63% to $91.13 per barrel. Gold futures dropped -1.99% to $1,675 per ounce.
Currencies: The US Dollar Index rose +0.32%.
Crypto: Bitcoin fell -1.07% to $19,237. Ethereum dropped -1.42% to $1,305.
Interest Rates: The US 10-year Treasury yield rose to 3.961%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Ian McMillan (@the_chart_life). It’s a chart of the iShares 20+ Year Treasury Bond ETF ($TLT) since 2010. The bond market was closed for Columbus Day today, but that didn’t stop $TLT from sinking to its lowest level in more than a decade. It’s fallen for six consecutive weeks now, and it dropped below $100 today for the first time since 2011. Ian points out that it sliced right through potential support at the 2013 lows like a hot knife through butter. $TLT needs to reclaim those 2013 lows in the near term, otherwise, there’s no clear support until it reaches the 2011 lows around $88.
Quote of the Day
“Bear markets have two components: Price and Time. Price takes your money. Time takes your patience.”
Top Links
Is Dow Theory Saying Game Over for the Stock Market? – Kimble Charting Solutions
Chris Kimble points out that the three major Dow Indices are all below their 40-week moving averages.
I Can’t Stop Talking About Energy – Means to a Trend
Austin Harrison takes a look at the relentless strength in energy stocks.
Wait ‘Till the VIX Spikes – The Compound and Friends
In this podcast, Katie Stockton of Fairlead Strategies sits down with Josh Brown and Michael Batnick to discuss the current market environment.
3 Charts to Watch – Carson Group
Ryan Detrick highlights three charts that have his attention right now.
Trendlines over Headlines with Special Guest, Steve Strazza – The Chart Report
Catch up on the latest episode of Trendlines over Headlines! In this week’s episode, Steve Strazza of All Star Charts joins us to make sense of the S&P 500, Energy Stocks, Gold, and more!
Top Tweets
You’re all caught up now. Thanks for reading!