Daily Chart Report ? Tuesday, October 25th, 2022
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Today’s Summary
Tuesday, October 25th, 2022
Indices: Russell 2000 +2.73% | Nasdaq 100 +2.10% | S&P 500 +1.63% | Dow +1.07%
Sectors: All 11 sectors closed higher. Real Estate led, gaining +3.95%. Energy lagged but still closed higher by +0.10%.
Commodities: Crude Oil futures rose +0.87% to $85.32 per barrel. Gold futures gained +0.24% to $1,659 per ounce.
Currencies: The US Dollar Index dropped -0.99%.
Crypto: Bitcoin rose +4.21% to $20,146. Ethereum jumped +9.41% to $1,470.
Interest Rates: The US 10-year Treasury yield dropped to 4.106%
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 @J4_doji. The Nasdaq 100 has bounced more than 9% from its recent low. However, it's still down nearly 30% from its peak and it continues to be in a downtrend. It's already had two double-digit bear market rallies this year. One in March (+17%) and another over the Summer (+22%). Both rolled over at the 0.618% Fibonacci retracement of their preceding declines. The 0.618% retracement of the current decline stands around 12,500, which is about 7.5% higher from here. Will Fibonacci smack down another rally this year?
Quote of the Day
"Optimism often sounds like a sales pitch,
pessimism sounds like someone trying to help you."
- Morgan Housel
Top Links
Bull Market Confirmation - All Star Charts
JC Parets shares what he's watching to confirm a new bull market.
No Change to the Currents Under the Surface - Research by Potomac
Dan Russo analyzes each of the 11 sectors of the S&P 500.
Chinese Stock Market Sends Warning As Waterfall Selloff Continues! - Kimble Charting Solutions
Chris Kimble points out that Hang Seng could fall further before reaching long-term support.
Near Record Volatility in the 10-Year Yield* - Bespoke
Bespoke examines the volatility in the 10-year yield.
Top Tweets
You’re all caught up now. Thanks for reading!