Chart of the Day - Friday, October 21st, 2022

Today’s Chart of the Day was shared by Mike Zaccardi (@MikeZaccardi). It's a weekly candlestick chart of the S&P 500 ($SPY) over the past two years. The past five Fridays have been ugly, but we finally ended the week on a positive note, rising 2.37% today. It was a choppy week, but we rose 4.74% overall, marking the fourth-best week of the year. We're above the June lows and the 200-week moving average, which is constructive. However, we're still down about 21% from the peak, so there's a lot of damage to repair. Will the bulls be able to build on these gains next week?