Daily Chart Report ? Tuesday, October 18th, 2022
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Today’s Summary
Tuesday, October 18th, 2022
Indices: Russell 2000 +1.16% | S&P 500 +1.14% | Dow +1.12%| Nasdaq 100 +0.77%
Sectors: All 11 sectors closed higher for the second straight day. Industrials led, rising +2.41%. Health Care lagged but still gained +0.56%.
Commodities: Crude Oil futures dropped -3.97% to $82.07 per barrel. Gold futures fell -0.49% to $1,656 per ounce.
Currencies: The US Dollar Index inched lower by -0.06%.
Crypto: Bitcoin fell -1.23% to $19,308. Ethereum fell -1.42% to $1,313.
Interest Rates: The US 10-year Treasury yield was unchanged at 4.011%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Shane Murphy (@murphycharts). It's a ratio chart of Small-Caps vs. Large-Caps over the past three years ($RUT/$SPX). Small-Caps have held up relatively well recently. In fact, the Russell 2000 was the only major index that respected its June lows throughout the recent sell-off. Shane points out that this ratio is currently at seven-month highs, in favor of Small-Caps. As we know, Small-Caps often lead the broader market higher or lower, so this is an encouraging development for the bulls. To be fair, the index is still down more than 28% from its peak nearly a year ago, so there's plenty of damage to repair but this is a start.
Quote of the Day
"The test of success is not what you do when you are on top.
Success is how high you bounce when you hit bottom."
- George S. Patton
Top Links
It's a Market of Stocks - PFT Trading
Greg Rieben highlights some pockets of strength within the market.
The US Dollar Dilemma - The Weekly Grind
Sam McCallum shares his thoughts the US Dollar Index and the Euro.
Who's Leading and Who's Lagging? - Research by Potomac
Dan Russo analyzes all 11 sectors of the S&P 500.
About that Yield Curve Inversion - StockCharts
Julius de Kempenaer examines at the yield curve.
"Are You Bullish or Bearish?" - All Star Charts
Louis Sykes takes a look at one of the only Cryptocurrencies showing strength right now.
Top Tweets
You’re all caught up now. Thanks for reading!