Daily Chart Report ? Wednesday, December 7th, 2022
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Today’s Summary
Wednesday, December 7th, 2022
Indices: Dow 0.00% | S&P 500 -0.19% | Russell 2000 -0.31% | Nasdaq 100 -0.45%
Sectors: 3 of the 11 sectors closed higher. Health Care led, rising +0.82%. Consumer Discretionary lagged, falling -0.60%.
Commodities: Crude Oil futures dropped -3.02% to a fresh 52-week low of $72.01 per barrel. Gold futures rose +0.88% to $1,798 per ounce.
Currencies: The US Dollar Index fell -0.37% to $105.17.
Crypto: Bitcoin fell -1.39% to $16,849. Ethereum dropped -3.10% to $1,232.
Interest Rates: The US 10-year Treasury yield fell to 3.419%.
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 Jay Kaeppel (@jaykaeppel). It’s a daily candlestick chart of the 20+ Year Treasury Bond ETF, $TLT, year-to-date. $TLT is on track for its worst year since inception, down more than -26% YTD and -36% from its 2020 peak. However, it’s bounced more than +18% off its lows in less than two months, marking the largest rally since its peak. Jay points out that it’s testing its 150-day exponential moving average, while its seasonal trend flips from bullish to bearish. Sentiment also seems optimistic, with the Reddit crowd recently turning to Bonds for excitement. Will the recent momentum persist, or will Bonds find resistance?
Quote of the Day
“A trade to me is like a party, I want to arrive fashionably late, and I want to leave before the cops come.”
– Jeffery Kennedy
Top Links
S&P 500 (SPY) December Drop – Bespoke
Bespoke highlights some key points about the S&P 500’s recent performance.
Where Are the New Highs? – All Star Charts
JC Parets takes a look at new highs within the S&P 500.
What to Make of Falling Oil Prices, Rising Energy Stocks – Schaeffer’s Investment Research
Rocky White examines the divergence between Crude Oil and Energy Stocks.
Are Interest Rates Creating Giant Reversal Pattern? – Kimble Charting Solutions
Chris Kimble breaks down a quarterly chart of the 10-year US Treasury yield.
Top Tweets
You’re all caught up now. Thanks for reading!