Daily Chart Report π Thursday, June 22, 2023
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Todayβs Summary
Thursday, June 22, 2023
Indices: Nasdaq +1.18% | S&P 500 +0.37% | Dow -0.01% | Russell 2000 -0.80%
Sectors: 5 of the 11 sectors closed higher. Consumer Discretionary led, gaining +1.28%. Real Estate lagged, falling -1.41%.
Commodities: Crude Oil futures dropped -4.16% to $69.51 per barrel. Gold futures fell -1.09% to a three-month low of $1,924 per oz.
Currencies: The US Dollar Index rose +0.31% to $102.40.
Crypto: Bitcoin was flat and continues to trade around $30,000. Ethereum fell -0.71% to $1,876.
Interest Rates: The US 10-year Treasury yield rose to 3.799%.
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 Gina Martin Adams (@GinaMartinAdams). These three industry groups often act as leading indicators for the stock market and the economy. Semiconductors (top) and Homebuilders (middle) have been two of the strongest industry groups year-to-date. Both recently broke out to all-time highs after basing for the past year and a half. Transports remain below their highs, but they're attempting to clear resistance from the Aug/Feb highs. As Gina points out, this adds confirmation to the bull case, as you don't often see two of the three leading industry groups breaking out to record highs in a bear market.
Quote of the Day
βThere are no happy ending in history,
only crisis points that pass.β
β Issac Asimov
Top Links
A Short Timeout for Tech Stocks - The Weekly Grind
Sam McCallum looks at what could next for Tech stocks after cooling off this week.
Stock Market Taking Fed Rate Hikes in Stride - Fox Business News
In this clip, Jay Woods discusses how the market is reacting to the Fed.
Momentum Investing Research: Harnessing the Power of Market Trends - John Rothe
John Rothe examines the benefits of a momentum-based investment strategy.
Chart Request Live - Stock Market TV
We joined Steve Strazza on Chart Request Live earlier today to break down some popular tickers.
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