Daily Chart Report π Friday, March 24th, 2023
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Todayβs Summary
Friday, March 24th, 2023
Indices: Russell 2000 +0.85% | S&P 500 +0.56% | Dow +0.41% | Nasdaq 100 +0.30%
Sectors: 9 of the 11 sectors closed higher. Utilities led, gaining +3.12%. Consumer Discretionary lagged falling -0.32%.
Commodities: Crude Oil futures moved lower by -1.00% to $69.26 per barrel. Gold fell -0.61% to $1,984 per oz.
Currencies: The US Dollar Index rose +0.51% to $103.12.
Crypto: Bitcoin dropped -2.86% to $27,532. Ethereum dropped -3.38% to $1,756.
Interest Rates: The US 10-year Treasury yield fell to 3.380%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Todayβs Chart of the Day was shared by Brandon (@tradebettor). Itβs a daily candlestick chart of the 20+ Year Treasury Bond ETF, $TLT. Brandon points out that $TLT is back above its 200-day moving average for the first time in more than a year. The trend is still lower, but itβs attempting to reclaim a key level around $109. This level has been tested several times in recent months, but itβs proved to be resistance. If $TLT can finally clear this hurdle, it would open the door for further upside.
Quote of the Day
βObservation is a dying art.β
β Stanley Kubrick
Trendlines > Headlines
https://youtu.be/Njafkn_c-VY
Check out the latest episode of Trendlines over Headlines!
This week, Frank Cappelleri of CappThesis returns to the show to share his perspective on the S&P 500, Financials, Yields, Gold, Crypto, and more!
Top Links
Will the Generals Follow the Troops? β Trend Investor Pro
Arthur Hill examines the bifurcation between Small Cap and Large Cap indicies.
March Mid-Month Conference Call: 5 Key Takeaways β All Star Charts
The team at All Star Charts highlights five key trends to focus on in the coming weeks.
The Financial Sector is Teetering on Historic Technical Support β Kimble Charting Solutions
Chris Kimble points out that the Financial sector is testing a crucial long-term level.
Sector Performance Experiences a Historical Divergence β Bespoke
Bespoke takes a look at year-to-date sector dispersion.
Huge Inflows In Bond ETFs β TD Ameritrade Network
In this clip, Todd Sohn of Strategas Research discusses the recent flows into Bond ETFs.