Daily Chart Report ? Friday, October 14th, 2022
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Today’s Summary
Friday, October 14th, 2022
Indices: Dow -1.34% | S&P 500 -2.37% | Russell 2000 -2.66% | Nasdaq 100 -3.10%
Sectors: All 11 sectors closed lower. Health Care led, but still fell -0.67%. Consumer Discretionary lagged dropping -3.74%.
Commodities: Crude Oil futures moved lower by -3.93% to $89.11 per barrel. Gold futures dropped -1.68% $1,649 per ounce.
Currencies: The US Dollar Index rose +0.75%.
Crypto: Bitcoin fell -1.01% to $19,181. Ethereum rose +0.72% to $1,297.
Interest Rates: The US 10-year Treasury yield rose to 4.022% - its highest since 2008.
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 Ryan Detrick (@RyanDetrick). The S&P 500 ended the week on a sour note, erasing about half of yesterday's historic reversal. Ryan points out that the S&P 500 has been habitually weak on Fridays recently. Including today, the index has closed lower on Friday for 5 consecutive weeks now, and 9 of the past 11. Not to mention, the past 4 Fridays have all lost more than 1%! There's nothing predictive about this stat, but it is characteristic of a bear market, and it's a sign of risk aversion. Clearly, nobody wants to be long heading into the weekends this year.
Quote of the Day
"You know you're doing what you love when Sunday nights feel the same as Friday nights."
- Donny Deutsch
Trendlines > Headlines
https://youtu.be/Q6yJ0hjR4_Y
Don't miss the latest episode of Trendlines over Headlines! In this week's episode, Frank Cappelleri of CappThesis joins us to make sense of this wild market environment. He shares his thoughts on the S&P 500, Interest Rates, the US Dollar, and more!
Top Links
Bad News is Good News - The Irrelevant Investor
Michael Batnick shares some thoughts on the current market environment.
Strong Sector Rotation to Financials, But Will it be Enough to Turn the Market Back Up? - StockCharts
Julius de Kempenaer points out that Financials are beginning to show relative strength.
Most Risk Gauges are Not Breaking Down - Research by Potomac
Dan Russo analyzes several key risk ratios and what they could be suggesting about the broader market.
The Good, The Bad, and the Ugly - All Star Charts
Ian Culley gives an update on Commodities.
Top Tweets
You’re all caught up now. Thanks for reading!