Daily Chart Report ? Friday, November 4th, 2022
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Today’s Summary
Friday, November 4th, 2022
Indices: Nasdaq 100 +1.56% | S&P 500 +1.36% | Dow +1.26% | Russell 2000 +1.13%
Sectors: All 11 sectors closed higher. Materials led, gaining +3.47%. Health Care lagged, but still rose +0.61%.
Commodities: Crude Oil futures rose +5.04% to $92.61 per barrel. Gold futures jumped +2.80% to $1,677 per ounce.
Currencies: The US Dollar Index had its worst day since 2015, dropping -1.94%.
Crypto: Bitcoin rose +4.76% to $21,170. Ethereum gained +7.43% to $1,645.
Interest Rates: The US 10-year Treasury yield inched higher to 4.163%.
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 Steve Strazza (@sstrazza). It's a chart of Hong Kong's Hang Seng Index over the past 16 years. Last week was the worst week for the Hang Seng in nearly five years. On a brighter note, this week was the best week for the index in more than a decade. Steve points out that extreme volatility in both directions is common at turning points. After falling like a rock for nearly two years, are Chinese stocks finally ready to stop going down?
Quote of the Day
"Plans are useless,
but planning is invaluable."
- Winston Churchill
Trendlines > Headlines
https://youtu.be/4kJJ_LZJKcI
Check out the latest episode of Trendlines over Headlines!
In this week's episode, Nick Reece of Merk Investments joins us to make sense of the Stock Market and the Economy.
Top Links
Howard Lindzon shares his thoughts on the technical damage in the S&P 500.
Nasdaq Teetering on Important Fibonacci Price Support! - Kimble Charting Solutions
Chris Kimble points out that the Nasdaq Composite is testing an important Fibonacci level.
In this quick video, Todd Sohn highlights three key takeaways across the markets.
Metals are Making All the Right Moves - All Star Charts
Ian Culley takes a look at the nascent strength in metals.
Top Tweets
You’re all caught up now. Thanks for reading!