Daily Chart Report ? Monday, November 21st, 2022
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Today’s Summary
Monday, November 21st, 2022
Indices: Dow -0.13% | S&P 500 -0.39% | Russell 2000 -0.57% | Nasdaq 100 -1.06%
Sectors: 7 of the 11 sectors closed higher. Consumer Staples led, gaining +0.95%. Consumer Discretionary lagged, falling -1.45%.
Commodities: Crude Oil futures managed to close flat (-0.09%) and continue to trade at $80.04 per barrel. Gold futures fell -0.84% to $1,740 per ounce.
Currencies: The US Dollar Index rose +0.75%.
Crypto: Bitcoin fell -3.01% to a fresh 2-year low of $15,766. Ethereum dropped -3.14% to $1,106.
Interest Rates: The US 10-year Treasury yield was unchanged at 3.833%.
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 Ian McMillan (@the_chart_life). Crude Oil had a wild day. It was on track for its worst day in four months this morning (-6%) as it tested year-to-date lows. However, buyers stepped in around $75 and it managed to close flat on the day. Ian points out that $75 has been a polarizing level for Crude Oil in recent years. It acted as resistance twice in 2018 and again in 2021, before finally breaking out earlier this year. It’s holding for now, but if it breaks $75, it would beg the question – was 2022 just one big failed breakout for Crude Oil?
Quote of the Day
“The most important part of every plan is planning on your plan not going according to plan.”
– Morgan Housel
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Top Links
Thanksgiving Week Performance – Bespoke
Bespoke examines how the S&P 500 has historically performed around Thanksgiving.
Stalled Out – The Weekly Trend
In this podcast, the team at Adaptiv discusses some of the most noteworthy technical developments.
Contagion – The Rotation Report
Aaron Jackson shares his thoughts on Crude Oil, Crypto, and Stocks.
Trendlines over Headlines with Special Guest, David Keller – The Chart Report
In the latest episode of Trendlines over Headlines, we sat down with David Keller of StockCharts.com to discuss behavioral biases and the current market environment.
Top Tweets
You’re all caught up now. Thanks for reading!