Daily Chart Report ? Tuesday, February 14th, 2023
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Today’s Summary
Tuesday, February 14th, 2023
Indices: Nasdaq 100 +0.71% | S&P 500 -0.03% | Russell 2000 -0.06% | Dow -0.46%
Sectors: 5 of the 11 sectors closed higher. Consumer Discretionary led, gaining +1.20%. Real Estate lagged, falling -1.04%.
Commodities: Crude Oil futures fell -1.35% to $79.06 per barrel. Gold futures ticked higher by just +0.10% to $1,865 per ounce.
Currencies: The US Dollar Index was flat (-0.03%) at $103.27.
Crypto: Bitcoin gained +2.04% to $22,235. Ethereum rose +3.49% to $1,558.
Interest Rates: The US 10-year Treasury yield rose to a one-month high of 3.747%.
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 Liz Young (@LizYoungStrat). The S&P 500 went everywhere and nowhere today. It closed flat (-0.03%) after a volatile intraday session. Liz points out that the index had at least six moves over 0.60%, including three moves over 1%. Heading into today, everybody expected it to be a 'big day' with the highly anticipated CPI report this morning. However, the market did what it does best and embarrassed the consensus view. Despite closing flat, there's bullish information in the fact that dips were bought. The bears had plenty of chances today, but buyers stepped in right where they had to around 4100. To paraphrase Charles Dow, "closing prices are all that matter."
Quote of the Day
"Today was a waste of a clean shirt and cab fare."
- Art Cashin
Top Links
DJIA and S&P 500 Up 10 of Last 12 Before Presidents' Day Weekend - Almanac Trader
Jeff Hirsch examines how stocks have historically performed ahead of Presidents' Day weekend.
Stocks to Watch: A Technician's View of the Market - Barron's
In this podcast, Frank Cappelleri shares his technical perspective on the market.
Why 10-Year Bond Yield Is Ready to Make New Highs In 2023 - See it Market
Guy Cerundolo explains why he thinks interest rates will continue to rebound.
Re: Goldman Sags - All Star Charts
JC Parets takes a look at another prime example of the magazine cover indicator.
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