Daily Chart Report ? Thursday, November 3rd, 2022
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Today’s Summary
Thursday, November 3rd, 2022
Indices: Dow -0.46% | Russell 2000 -0.53% | S&P 500 -1.06% | Nasdaq 100 -1.98%
Sectors: 4 of the 11 sectors closed higher. Energy led, gaining +1.85%. Tech lagged dropping -2.94%.
Commodities: Crude Oil futures fell -2.03% to $88.17 per barrel. Gold futures dropped -1.16% to $1,631 per ounce.
Currencies: The US Dollar Index rose +0.77%.
Crypto: Bitcoin inched higher by +0.30% to $20,214. Ethereum rose +0.93% to $1,533.
Interest Rates: The US 10-year Treasury yield rose to 4.149%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Tyler Lovingood (@Tyler_Lovingood). It's a daily candlestick chart of the US Dollar Index ($DXY) over the past six months. The bulls keep trying to call a top in the Dollar, but as Tyler points out, the uptrend remains intact. Dollar strength has been putting pressure on stocks and risk assets all year. That pressure is likely to continue as long as the Dollar is trending higher. You can understand why the bulls want it to break down, however, it's just not happening yet.
Quote of the Day
“Well done is better than well said.”
- Ben Franklin
Top Links
The Nasdaq is NOT the Stock Market - All Star Charts
JC Parets shares his thoughts on the Nasdaq's underperformance.
The Fed Fun House - The Weekly Grind
Sam McCallum highlights some noteworthy trends and themes across the markets.
Holding Up Better Than We Would've Thought - Research by Potomac
Dan Russo analyzes market breadth.
Bears Down By 20 - Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
Top Tweets
You’re all caught up now. Thanks for reading!