Daily Chart Report ? Wednesday, December 14th, 2022
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Today’s Summary
Wednesday, December 14th, 2022
Indices: Dow -0.42% | S&P 500 -0.60% | Russell 2000 –0.65% | Nasdaq 100 -0.79%
Sectors: Health Care was the only sector that closed higher, rising +0.16%. Communications lagged falling -1.30%.
Commodities: Crude Oil futures rose +2.51% to $77.28 per barrel. Gold futures fell -0.37% to $1,819 per ounce.
Currencies: The US Dollar Index fell -0.37% to $103.62.
Crypto: Bitcoin inched higher by +0.17% to $17,803. Ethereum fell -1.00% to $1,307.
Interest Rates: The US 10-year Treasury yield fell to 3.483%.
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 Brian G (@alphacharts). It’s a weekly bar chart of the Biotech ETF, $IBB, over the past three years. The largest stocks in this ETF include $GILD, $AMGN, $VRTX, $REGN, and $MRNA. Health Care has been the strongest sector over the past 6-months, and Biotech continues to be one of the more attractive industry groups within it. Brian points out that $IBB is in the process of breaking out of a 1-year base. As long as it’s above $132, the path of least resistance is higher.
Quote of the Day
“The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.”
– Warren Buffett
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Top Links
Late December Could Bring Tailwinds to Wall Street – Schaeffer’s Investment Research
Rocky White examines the tendency for stocks to do well in the final weeks of December.
Energy Losing its Grip – Bespoke
Bespoke takes a look at the Energy Sector.
This Relief Rally Has Matured and Market Risk Has Heightened, Says Katie Stockton – CNBC
Katie Stockton shares her near-term outlook on the S&P 500.
Happy Holidays! | Who Charted? – Research by Potomac
Dan Russo and Drew Wells highlight six noteworthy charts in six minutes.
Is the US Dollar About to Fall Another 10 Percent? – Kimble Charting Solutions
Chris Kimble points out that the US Dollar is testing a make-or-break level.
Top Tweets
You’re all caught up now. Thanks for reading!
