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Today’s Summary
Friday, November 12th, 2021
Indices: Dow +0.50% | S&P 500 +0.72% | Nasdaq +1.00% | Russell 2000 +0.11%
Sectors: 8 of the 11 sectors closed higher. Communications led, gaining 1.46%. Energy lagged, slipping 0.24%.
Commodities: Crude Oil futures fell 1.10% to $80.69 per barrel. Gold futures closed higher for the seventh day in a row, rising 0.20% to $1,868 per ounce.
Currencies: The US Dollar Index ticked lower by just 0.03%.
Interest Rates: The US 10-year Treasury yield fell to 1.566%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
This $JO does not have Alzheimer's and is wide awake and ready for a run from a 16-wk Cup and Handle pic.twitter.com/2jpSXIRUlw
— Peter Brandt (@PeterLBrandt) November 12, 2021
Today’s Chart of the Day was shared by Peter Brandt (@PeterLBrandt). It’s a daily bar chart of the Coffee ETF, $JO, over the past six months. Peter points out that $JO is breaking out to an all-time high from a 16-week cup & handle pattern. By the looks of this chart, your cup of morning joe is about to get a little more expensive.
Quote of the Day
“Everything you say should be true
but not everything true should be said.”
– Voltaire
Top Links
5 Charts – Time for Gold to Shine? – LPL Financial Research
In this video, Ryan Detrick and Scott Brown highlight five important macro charts.
Week Before Thanksgiving, DJIA up 19 of 28 but Weaker Lately – Almanac Trader
Seasonality expert, Jeff Hirsch examines how stocks have historically performed the week before Thanksgiving (next week).
Best & Worst S&P 500 Stocks Since September 30th – Bespoke
Bespoke takes a look at the strongest/weakest stocks so far in Q4.
Gold Hits New 52-Week Highs? – All Star Charts
JC Parets explains why Gold could continue higher in the coming weeks/months.
Stock Market Analysis November 12, 2021 – AlphaTrends
Brian Shannon recaps this week’s price action and lays out some key levels to keep an eye on next week.
Top Tweets
The stupid irony of stocks in the fourth quarter.
Since 1950:
?? It’s been the S&P 500’s strongest quarter for returns (on average)
? It’s the quarter in which 4/10 bear markets have started.— Callie Cox (@callieabost) November 12, 2021
The bizarre accuracy of seasonality in $SPX continues: Major seasonal low Oct 11th -13th (played out), first week of Nov one of strongest annually (played out), back&forth/weaker phase Nov 10-20th (underway). Won't continue this accuracy forever, but worth tracking until it stops https://t.co/WyqvJaVnjK
— Adam Mancini (@AdamMancini4) November 12, 2021
Weekly $SPX update: stocks survive inflation-geddon with small losses. Guess the market still thinks it's transitory? ?♂️ pic.twitter.com/IEoipcls8a
— Michael Turvey (@MikeTurvey_TDA) November 12, 2021
Only three $SPX sectors making new highs this week: Technology, Industrials and Materials. When in doubt, follow the trends! $XLK $XLI $XLB pic.twitter.com/obYubpU6Ju
— David Keller, CMT (@DKellerCMT) November 12, 2021
$XLB crushing it this week. $XLY the laggard. $FCX $TSLA pic.twitter.com/JEiV5SmfGM
— Mike Zaccardi, CFA, CMT (@MikeZaccardi) November 12, 2021
The Homebuilders $ITB stood out to me this week
now above Aug highs pic.twitter.com/RZQ3lhcs2D
— Christian Fromhertz (@cfromhertz) November 12, 2021
$GLD $GC_F pic.twitter.com/2c4fvIc6bu
— Bhagyashree Urdhwareshe, CMT (@sunsofttech) November 12, 2021
$GC_F $GLD $XAU pic.twitter.com/qt1DvrV8uc
— Chris Carolan $=1/∞ (@spiralcal) November 12, 2021
$MJ Prime Alternative Harvest 1D
New multi-month high coming off a bullish RSI divergence. pic.twitter.com/ah17yMMXVz
— Shane C. Murphy (@murphycharts) November 12, 2021
How about a reversal on $MJ?
We see price peaking out over resistance at the close of the week. The final daily candle looks primed to leave the ascending triangle pattern, as well. RSI has been diverging prior to the lowest low and is now at a bullish 60. pic.twitter.com/AO9cYV2zAq
— Jay R. Ligon (@TheeDisruptor) November 12, 2021
Coffee has been outperforming the broad market for most of the year now. If you also take a look at how tight the bollinger bands are in this uptrend… we could see another explosive move to the upside. pic.twitter.com/AzD0RIpphi
— Jason Perz (@JasonBoyd138) November 12, 2021
Topping pattern in nat gas? Not because there is more supply or the winter is not coming, that is for sure. #UNG pic.twitter.com/xDiNJGSORF
— Michael Kahn, CMT (@mnkahn) November 12, 2021
You’re all caught up now. Thanks for reading!