Daily Chart Report ? Tuesday, November 15th, 2022
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Today’s Summary
Tuesday, November 15th, 2022
Indices: Russell 2000 +1.50% | Nasdaq 100 +1.45% | S&P 500 +0.87% | Dow +0.17%
Sectors: 9 of the 11 sectors closed higher. Communications led, gaining +1.49%. Materials lagged, inching lower by just -0.15%.
Commodities: Crude Oil futures rose +1.22% to $86.92 per barrel. Gold futures were unchanged at $1,777 per ounce.
Currencies: The US Dollar Index fell -0.35%.
Crypto: Bitcoin rose +1.65% to $16,863. Ethereum gained +0.60% to $1,249.
Interest Rates: The US 10-year Treasury yield fell to 3.773%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Grayson Roze (@GraysonRoze). Its a daily candlestick chart of the Semiconductor ETF ($SMH) over the past year. Semiconductors have been ripping lately. $SMH is up 23.4%over the past eight days marking its best 8-day run since 2002. Grayson points out that it’s currently testing its declining 200-day moving average for the first time in more than seven months. It kissed it earlier today, but we ended up closing slightly below it. As we know, Semiconductors often lead the broader market higher or lower. The S&P 500 is also within striking distance of its 200-day moving average. How Semis behave here could give us some clues as to how the S&P 500 will handle its 200-day moving average.
Quote of the Day
“Complexity is not to be admired.
It’s to be avoided”
– Jack Trout
Top Links
How Bottoms Form. (It Might Suprise You.) – Carson Group
Ryan Detrick examines the bottoming process in the S&P 500.
Leaders Keep Leading – Research by Potomac
Dan Russo reviews all 11 sectors of the S&P 500.
Breadth Alerts Continue to Favor the Bullish Case – SentimenTrader
Jay Kaeppel highlights some potentially bullish breadth signals.
It’s the Dollar Stupid – All Star Charts
JC Parets points out that the US Dollar continues to be the catalyst for stocks.
Top Tweets
You’re all caught up now. Thanks for reading!