Daily Chart Report π Thursday, April 13th, 2023
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Todayβs Summary
Thursday, April 13th, 2023
Indices: Nasdaq 100 +2.03% | S&P 500 +1.33% | Russell 2000 +1.30% | Dow +1.14%
Sectors: 10 of the 11 sectors closed higher. Consumer Discretionary led, gaining +2.21%. Real Estate was the only sector that closed lower, falling -0.32%.
Commodities: Crude Oil futures fell -1.32% to $82.16 per barrel. Gold futures rose +1.50% to $2,055 per oz β the second-highest daily close ever.
Currencies: The US Dollar Index dropped -0.52% to $101.01.
Crypto: Bitcoin gained +1.60% to $30,381. Ethereum rose +4.84% to an 11-month high of $2,012.
Interest Rates: The US 10-year Treasury yield rose to 3.449%.
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 David Yocum (@YocumsCharting). The US Dollar Index is on track for its fifth consecutive down week, marking its longest weekly losing streak in more than two years. It closed at its lowest level in nearly a year today (51-week lows to be exact). More importantly, itβs back below a crucial support level (around $102-$103) which has been a major inflection point. Dollar strength has been a significant headwind for Stocks, Gold, Crypto, and other risk assets over the past two years. Itβs no surprise that those assets stopped going down around the same time that the Dollar peaked last year. Risk assets will likely continue to benefit if the Dollar continues to weaken in the coming months.
Quote of the Day
βThe greatest value of a picture is when it forces us to notice what we never expected to see.β
β John Tukey
Top Links
Finding the Next Stock to Break Out β All Star Charts
JC Parets examines the US Dollar and its influence on risk assets.
If at First You Donβt Succeedβ¦ β Bespoke
Bespoke takes a look at Crude Oil and its struggle to reclaim its 200-day moving average.
This Indicator Suggests Gold to Outperform Stocks for Years β Kimble Charting Solutions
Chris Kimble breaks down the Dow vs. Gold ratio and what it suggests for Gold.
What if It Doesnβt Work Out? | Greg Schnell, CMT | Your Daily Five β StockCharts.com
In this video, Greg Schnell discusses the S&P 500βs battle with 4,100.
In Case You Missed It
In our latest episode of Trendlines over Headlines, Willie Delwiche of Hi Mount Research joined us to discuss breadth, sentiment, interest rates, commodities, and more! Click the video below to watch the full conversation.
https://youtu.be/Z1LqwUozP9o
Subscribe to our YouTube channel here for new episodes every Friday!