Daily Chart Report ? Monday, December 19th, 2022
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Today’s Summary
Monday, December 19th, 2022
Indices: Dow -0.49% | S&P 500 -0.90% | Russell 2000 –1.41% | Nasdaq 100 -1.42%
Sectors: All 11 Sectors closed lower. Consumer Staples led but still fell -0.77%. Communications lagged dropping -2.58%.
Commodities: Crude Oil futures rose +1.24% to $75.38 per barrel. Gold futures fell -0.14% to $1,798 per ounce.
Currencies: The US Dollar Index fell -0.17% to $104.66.
Crypto: Bitcoin fell -2.32% to $16,358. Ethereum dropped -2.46% to $1,1154.
Interest Rates: The US 10-year Treasury yield rose to 3.590%.
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 Frank Cappelleri (@FrankCappelleri). It’s a weekly chart of the Dow Jones Industrial Average over the past three years. Frank points out that the Dow recently formed a failed breakout at its August highs. As we know, failed breakouts often lead to fast moves in the opposite direction, which in this case is lower. Bulls want to see the Dow form the right shoulder of an inverse head & shoulders pattern, by carving out a higher high. However, as long as the Dow is below the August highs, the near-term outlook is lower.
Quote of the Day
“The market will do whatever it has to do to embarrass the greatest number of people to the greatest extent possible.”
– Walter Deemer
Top Links
Do Poor YTD Results Mean Late December Rally Will Flop – Quantifiable Edges
Rob Hanna examines how the S&P 500 has historically performed in the final weeks of the year when it’s down 12% or more YTD.
S&P 500 Chart Storm 18 December 2022 – TopDown Charts
Callum Thomas highlights 10 noteworthy charts to consider.
Overhead Supply – The Weekly Trend
In this podcast, the team at Adaptiv discusses some of the noteworthy technical developments across the markets.
New Leadership Emerging – All Star Charts
JC Parets looks at some of the signs of new leadership.
Trendlines over Headlines with Special Guest, Phil Pearlman – The Chart Report
In the latest episode of Trendlines > Headlines, Dr. Phil Pearlman of the Pearl Institute joins us to talk about the intersection of health & wealth, and what we can do to keep our New Years’ resolutions.
Top Tweets
You’re all caught up now. Thanks for reading!
