Daily Chart Report ? Friday, October 21st, 2022
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Today’s Summary
Friday, October 21st, 2022
Indices: Dow +2.47% | Nasdaq 100 +2.39% | S&P 500 +2.37% | Russell 2000 +2.22%
Sectors: All 11 sectors closed higher. Materials led, gaining +3.46%. Communications lagged but still gained +0.64%.
Commodities: Crude Oil futures rose +0.64% to $85.05 per barrel. Gold futures gained +1.19% to $1,656 per ounce.
Currencies: The US Dollar Index dropped -0.86%.
Crypto: Bitcoin inched higher by +0.64% to $19,165. Ethereum rose +1.32% to $1,300.
Interest Rates: The US 10-year Treasury yield inched lower to 4.221%.
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 Mike Zaccardi (@MikeZaccardi). It's a weekly candlestick chart of the S&P 500 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 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?
Quote of the Day
“To be successful in life, you must get in the habit of turning negatives into positives.”
- George Foreman
Trendlines > Headlines
&feature=youtu.beCheck out the latest episode of Trendlines over Headlines! In this week's episode, David Settle of Market Scholars joins us to make sense of the current market environment. He shares his perspective on Stocks, Commodities, the US Dollar, and more!
Top Links
October 21, 2022 Weekend Market Review - Trading Adventures
Andrew Moss recaps this week's price action.
Price and Breadth Blowout Into the Weekend - Bespoke
Bespoke examines the large daily moves we've seen this year.
October Mid-Month Conference Call: 5 Key Takeaways - All Star Charts
The team at All Star Charts highlights five noteworthy themes to keep an eye on.
Tape and Fed Outweigh Seasonality - StockCharts
Arthur Hill explains why he thinks the S&P 500 won't follow its seasonal pattern this year.
Top Tweets
You’re all caught up now. Thanks for reading!