Daily Chart Report ? Wedensday, January 11th, 2023
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Today’s Summary
Wednesday, January 11th, 2023
Indices: Nasdaq 100 +1.76% | S&P 500 +1.28% | Russell 2000 +1.17% | Dow +0.80%
Sectors: 10 of the 11 Sectors closed higher. Real Estate led, gaining +3.63%. Consumer Staples lagged but still managed to close higher by +0.05%.
Commodities: Crude Oil futures rose +3.05% to $77.41 per barrel. Gold futures inched up +0.13% to an eight-month high of $1,879 per ounce.
Currencies: The US Dollar Index was flat and continues to trade around $103.26.
Crypto: Bitcoin rose +2.41% to $17,872. Ethereum gained +3.73% to a two-month high of $1,385.
Interest Rates: The US 10-year Treasury yield fell to 3.545%.
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 David Keller (@DKellerCMT). The S&P 500 reclaimed its 50-day moving average yesterday, and it's less than 1% below its 200-day moving average. David points out that the index is stronger internally than it is on the surface. As of today's close, more than 76% of stocks within the S&P 500 are above their 50-day moving averages, and more than 65% of stocks are above their 200-day moving averages. David adds that readings above 50% are generally associated with bullish phases for the S&P 500.
Quote of the Day
“Better or worse matters
more than good or bad.”
- Liz Ann Sonders
Top Links
Mid-week Market Update January 11, 2023 - Trading Adventures
Andrew Moss takes a look at the major indices heading into tomorrow's CPI report.
President Biden's Third Year Bodes Well for Stocks - Schaeffer's Investment Research
Rocky White examines how stocks have historically performed in the third year of the presidential cycle.
Industrials Continue to Lead Stocks Higher - All Star Charts
JC Parets looks at the strength in Industrials stocks and what it could mean for the broader market.
ETF Flow Data Key Takeaways - Strategas Asset Management
In this quick video, Todd Sohn shares some insights from recent ETF flows.
Top Tweets
Gundlach: The trendline of U.S. stocks as a world beater has been broken. pic.twitter.com/WMgM3IDPfy
— DoubleLine Capital (@DLineCap) January 11, 2023
You’re all caught up now. Thanks for reading!