Daily Chart Report ? Thursday, December 15th, 2022
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Today’s Summary
Thursday, December 15th, 2022
Indices: Dow -2.25% | S&P 500 -2.49% | Russell 2000 -2.52% | Nasdaq 100 -3.37%
Sectors: All 11 Sectors closed lower. Energy led but still fell -0.61%. Communications lagged dropping -3.90%.
Commodities: Crude Oil futures fell -1.51% to $76.11 per barrel. Gold futures dropped -1.70% to $1,788 per ounce.
Currencies: The US Dollar Index rose +0.95% to $104.60.
Crypto: Bitcoin fell -2.48% to $17,362. Ethereum fell -3.13% to $1,266.
Interest Rates: The US 10-year Treasury yield fell to 3.450%.
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 Ryan Detrick (@RyanDetrick). December has historically been the third strongest month for the S&P 500 since 1950, however, most of its gains tend to occur in the second half of the month. Ryan points out that the seasonally strong period begins today (December 15th). Some will mistakenly call this the 'Santa Claus Rally' however, that term exclusively refers to the last five trading days in December and the first two in the New Year. Michael Santoli once said, "Seasonality is climate, not weather." In other words, we know what typically happens, but of course, we can't predict what will actually happen. If the S&P 500 fails to rally over these next two weeks, it will be a red flag that the underlying trend is unusually powerful to the downside. For more on this, check out Ryan's recent blog post here.
Quote of the Day
“To me, the 'tape' is the final arbiter of any investment decision. I have a cardinal rule: Never fight the tape!”
- Marty Zweig
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Top Links
Mid-Month Market Update: December 2022 - Grindstone Intelligence
Austin Harrison highlights some key takeaways about the current market environment.
Sentiment Snoozer - Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
Bonds Break Out - What the FICC?
In this quick video, Ian Culley takes a look at the recent bounce in Bonds.
The Truth About the Killer Yield Curve - Research by Potomac
Manish Khatta lays out everything you need to know about the yield curve.
Demographics vs. The Stock Market - A Wealth of Common Sense
Ben Carlson breaks down US Stock Market ownership by demographic.
Top Tweets
You’re all caught up now. Thanks for reading!
