Daily Chart Report ? Monday, December 5th, 2022
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Today’s Summary
Monday, December 5th, 2022
Indices: Dow -1.40% | Nasdaq 100 -1.73% | S&P 500 -1.79% | Russell 2000 -2.78%
Sectors: All 11 sectors closed lower. Utilities led, but still fell -0.56%. Energy lagged, dropping -2.97%.
Commodities: Crude Oil futures moved lower by -3.81% to $76.93 per barrel. Gold futures dropped -1.56% to $1,810 per ounce.
Currencies: The US Dollar Index gained +0.75%.
Crypto: Bitcoin fell -0.77% to $16,983. Ethereum dropped -1.57% to $1,260.
Interest Rates: The US 10-year Treasury yield fell to 3.585%.
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 Peter Brandt (@PeterLBrandt). It's a monthly chart of US Dollar Index Futures over the past 8 years. The Dollar just had its worst month in more than a decade, however, Peter points out that it's testing a key long-term support level around $103. The Dollar had been stuck in a range for 5 years prior to breaking out in May, and this is the first time we're retesting that range since. Any potential rebound in the Dolar would likely put pressure on Stocks and other risk assets, so this will be an important test for the broader market.
Quote of the Day
“Sometimes it's not enough to know what things mean, sometimes you have to know what things don't mean.”
- Bob Dylan
Top Links
Weekly S&P500 ChartStorm - 4 December 2022 - Topdown Charts
Callum Thomas highlights 10 noteworthy charts to watch this week.
Is it Time to Buy Precious Metals Again? - Means to a Trend
Austin Harrison examines the outlook for Precious Metals.
Two Hundred Days - The Weekly Trend
In this podcast, David Zarling and Ian McMillan discuss some of the key technical developments across the markets.
Lumber Lingers at New Lows - Bespoke
Bespoke takes a look at the weakness in Lumber.
Trendlines over Headlines with Special Guest, JC Parets - The Chart Report
In our latest episode of Trendlines over Headlines, JC Parets of All Star Charts joins us to talk Stocks, Crude Oil, Crypto, and International Stocks.
Top Tweets
You’re all caught up now. Thanks for reading!