Daily Chart Report ? Thursday, January 5th, 2023
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Today’s Summary
Thursday, January 5th, 2023
Indices: Dow -1.02% | Russell 2000 -1.09% | S&P 500 -1.17% | Nasdaq 100 -1.59%
Sectors: 2 of the 11 Sectors closed higher. Energy led, gaining +1.82%. Real Estate lagged, dropping -2.93%.
Commodities: Crude Oil futures rose +1.14% to $73.67 per barrel. Gold futures dropped -0.99% to $1,841 per ounce.
Currencies: The US Dollar Index rose +0.85% to $105.15.
Crypto: Bitcoin was flat and continues to trade around $16,826. Ethereum fell -0.47% to $1,251.
Interest Rates: The US 10-year Treasury yield rose to 3.720%.
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 Andrew Thrasher (@AndrewThrasher). Chinese Internet stocks have been a surprising area of relative strength lately. $KWEB has surged 100% in less than three months, while the S&P 500 has gone virtually nowhere. Despite the recent bounce, it's still down 66% from its highs. Andrew points out that it's currently testing the VWAP from its 2021 peak. It would be constructive to see price reclaim this VWAP. However, this would be a logical place to see some profit-taking after the face-ripping rally that it's had recently.
Quote of the Day
“Most people get interested in stocks when everyone else is. The time to get interested is when no one else is. You can’t buy what is popular and do well.”
- Warren Buffett
Top Links
Santa Showed Up. So Now What? - All Star Charts
JC Parets shares his perspective on the Santa Claus Rally, which ended yesterday.
Nasdaq on the Brink of a Larger Collapse? Watch This Support! - Kimble Charting Solutions
Chris Kimble points out that the Nasdaq is flirting with the lower bounds of a 13-year rising channel.
Bulls and Bears Back Off - Bespoke
Bespoke breaks down the results of the most recent AAII Sentiment Survey.
Random Thoughts Heading into 2023 - Joe Fahmy
Joe Fahmy shares some food for thought as we reset the year.
Top Tweets
You’re all caught up now. Thanks for reading!