Daily Chart Report ? Thursday, November 10th, 2022

Today was the best day for the S&P 500 since April 2020 pic.twitter.com/y16bh9Rgzi

— Evan (@StockMKTNewz) November 10, 2022

$SPX

Well...one of the best daily return in history (15th best since the 1950s), is bringing the index back to test that 30 WEEKS moving average again: third time lucky charm? pic.twitter.com/jQHXPLvGwC

— conradseric, CMT, CAIA, CEFA (@conradseric) November 10, 2022

Largest single day gain for the Nasdaq 100 since April 2020 when it thrusted off the lows and broke the initial COVID downtrend.
$NDX $QQQ pic.twitter.com/bGaldFQ6Zr

— Evan Medeiros (@evanmedeiros) November 10, 2022

Days like today don't happen in bull markets and it is by no means a signal to pile into stocks. In 2000-2002, the Nasdaq had 14 up days of 6% or more, and you would have been wrong 14 times if you thought the bottom was in. pic.twitter.com/PaIQCG6GHg

— Wesley Mattox, CFA, CMT (@WesleyJMattox) November 10, 2022

Magic Internet money melting down and Nasdaq ("The Stock Market for the Next 100 Years") dead-cat bouncing, while a crude 19TH-century index packed with dull, ancient companies tries to break the 2022 downtrend and is less than 10% off its peak. pic.twitter.com/W8meBZtCbp

— Michael Santoli (@michaelsantoli) November 10, 2022

A gap that is not traded into for the next 3 days can lead to a move of 2+ weeks in the direction of the gap. This looks distinctly like an H and S bottom with a breakaway gap and if so, expect SMH to trend higher into month end. Just one of many markets with this pattern. pic.twitter.com/fZDf49UXRm

— Linda Raschke (@LindaRaschke) November 10, 2022

The dollar just had its worst day since 2009 pic.twitter.com/YTRXwdDJtE

— Lisa Abramowicz (@lisaabramowicz1) November 10, 2022

$DXY this what stocks have been waiting for.

Dollar breakdown through three different forms of support.

Now, can it stay below? pic.twitter.com/t352LAYHDp

— Andrew Moss, CMT (@Andy__Moss) November 10, 2022

What a day for Cathie Wood! Her flagship ETF, Ark Innovation $ARKK, just had its best single day performance in the fund's history. pic.twitter.com/57sUa5O1NI

— Barchart (@Barchart) November 11, 2022

Here's the problem with holding big losses. $ARKK is up 10% this morning and it barely registers on the chart. A long way to go when you hold big losses. pic.twitter.com/z6xtgbNJX0

— Mark Minervini (@markminervini) November 10, 2022

Was this just the shakeout of the century? #Bitcoin $BTC pic.twitter.com/1oCWR5OFo4

— Steven Strazza (@sstrazza) November 10, 2022

Best day in years for stocks takes place within a week after the Phillies lose?

I'm not saying it is a coincidence, but I'm not saying it isn't. pic.twitter.com/OrUp6vFtBo

— Ryan Detrick, CMT (@RyanDetrick) November 10, 2022