Daily Chart Report ? Friday, December 16th, 2022
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Today’s Summary
Friday, December 16th, 2022
Indices: Russell 2000 –0.63% | Dow -0.85% | Nasdaq 100 -0.89% | S&P 500 -1.11%
Sectors: All 11 Sectors closed lower. Communications led but still closed in the lower by -0.02%. Real Estate lagged dropping -2.95%.
Commodities: Crude Oil futures fell -2.17% to $74.46 per barrel. Gold futures rose +0.64% to $1,800 per ounce.
Currencies: The US Dollar Index rose +0.22% to $104.84.
Crypto: Bitcoin fell -4.20% to $16,633. Ethereum dropped -7.83% to $1,167.
Interest Rates: The US 10-year Treasury yield rose to 3.490%.
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 Willie Delwiche (@WillieDelwiche). It’s a chart of the S&P 500 since its inception in 1950, along with US Household Equity Exposure. With just 9 trading days left, the S&P 500 is down more than -19% YTD, putting it on track for the worst year since 2008. Despite how painful this year has been, Willie points out that US investors have hardly reduced their exposure to stocks. Exposure reached extreme levels last year, and it remains historically elevated. Are investors in denial? As you can see, excessive exposure led to a lost decade for the S&P 500 in the 1970s and early 2000s. Could we be in for the boring ’20s?
Quote of the Day
“Two topics impact everyone, whether you’re interested in them or not: health and money.”
– Morgan Housel
Trendlines > Headlines
https://youtu.be/HfbvtcdTPbQ
In this week’s episode, we mix it up with Dr. Phil Pearlman, founder of the Pearl Institute. Phil is a psychologist and an expert in behavioral finance and health. We discuss the intersection of health & wealth, and Phil gives us some actionable tips on how to keep our New Year’s resolutions.
Top Links
5 Things to Know About Recessions and Bear Markets – Carson Group
Ryan Detrick shares some insights on recessions and bear markets.
Santa Claus Rally, Mid-December Low & January Trifecta – Almanac Trader
Jeff Hirsch highlights a few prescient seasonality indicators to watch in December and January.
That Short-Term Chop – All Star Charts
JC Parets examines the current market environment.
Stock Market Video Analysis 12/16/22 – AlphaTrends
Brian Shannon recaps this week’s price action and lays out some key levels to watch next week.
No Candy!! – MOTR Capital Management & Research
David Lundgren shares his thoughts on Treasury yields and the Fed [free signup required]
Top Tweets
You’re all caught up now. Thanks for reading!
