Daily Chart Report ? Thursday, October 27th, 2022
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Today’s Summary
Thursday, October 27th, 2022
Indices: Dow +0.61% | Russell 2000 +0.11% | S&P 500 -0.61% | Nasdaq 100 -1.88%
Sectors: 6 of the 11 sectors closed higher. Industrials led, gaining +1.17%. Communications lagged, dropping -4.74%.
Commodities: Crude Oil futures rose +1.33% to $89.08 per barrel. Gold futures slipped -0.22% to $1,666 per ounce.
Currencies: The US Dollar Index rose +0.80%.
Crypto: Bitcoin fell -2.50% to $20,256. Ethereum moved lower by -3.61% to $1,510.
Interest Rates: The US 10-year Treasury yield dropped to 3.923%.
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 Brian Joyce (@Nasdaqbjoyce). The chart shows two ratios; the Russell 2000 vs. the S&P 500 (top), and Value vs. Growth (bottom). The Russell 2000 broke out to a fresh year-to-date high vs. the S&P 500 today. Brian points out that these two ratios are highly correlated. Therefore, if the Russell 2000 continues to outperform the S&P 500, Value will likely continue to outperform Growth.
Quote of the Day
“After a stock market decline, people may perceive more risk than before when, in fact, the decline may have taken some of the risk out of the market.”
– Robert Shiller
Top Links
Grandad Russell 2000 Leads This Stock Market Rally – StockCharts
Mish Schneider looks at the recent outperformance from Small-Cap stocks.
November is Top NASDAQ Month in Midterm Years – Almanac Trader
Seasonality expert, Jeff Hirsch examines how Stocks have historically performed in November.
The Riskest Bonds Look Best – All Star Charts
Ian Culley takes a look at a potential reversal in the High Yield Bond ETF, $HYG.
What is a “Breadth Thrust” and What are the Risks? – Research by Potomac
Drew Wells lays out everything you need to know about breadth thrusts.
Hi Yo Silver Time for Silver Mining Stocks – Kimble Charting Solutions
Chris Kimble points out that the Silver Miners ETF, $SIL, is attempting to break out.
Top Tweets
You’re all caught up now. Thanks for reading!