Daily Chart Report π Friday, November 15, 2024
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Todayβs Summary
Friday, November 15, 2024
Indices: Dow -0.70% | S&P 500 -1.32% | Russell 2000 -1.42% | Nasdaq 100 -2.40%
Sectors: 3 of the 11 sectors closed higher. Utilities led, gaining +1.50%. Technology lagged, dropping -2.48%.
Commodities: Crude Oil futures dropped -2.45% to $67.02 per barrel. Gold inched lower by -0.11% to $2,570 per oz.
Currencies: The US Dollar Index broke a five day winning streak, falling -0.18% to 106.67.
Crypto: Bitcoin rose +4.28% to an all-time high of $91,070. Ethereum rose +1.04% to $3,091.
Volatility: The Volatility Index jumped +12.80% to 16.13.
Interest Rates: The US 10-year Treasury yield was flat at 4.441%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by @TheDonIvesting.
- The Health Care Sector ($XLV) dropped -5.5% this week, marking its worst week in four years. It's now the weakest sector YTD (+5.2%) and the only negative sector QTD (-6.2%).
- Donovan points out that $XLV is testing the 2022 highs, around $140. Relapsing into this multi-year range would be a major setback for the fourth-largest sector of the S&P 500.
- The largest stocks in $XLV and their weightings are:
1.) $LLY - Eli Lilly & Co. (11.7%)
2.) $UNH - UnitedHealth Group (10.3%)
3.) $JNJ - Jonson & Johnson (6.9%)
4.) $ABBV - AbbVie Inc. (5.7%)
5.) $MRK - Merck & Co. ( 4.7%)
The Takeaway: Health Care is testing a critical level around $140 after retracing its entire breakout from earlier this year. Losing this level would be a major setback for the fourth-largest sector of the S&P 500.
Top Links
Stock Market & Crypto Analysis 11/14/2024 - Alphatrends
Brian Shannon breaks down this week's price action and some key levels to watch next week.
Space Stocks Are Moonin - Strazza Letter
Steve Strazza points out that space-related stocks are breaking out.
What the Market Says About the State of Semiconductors - CNBC
Jeff deGraaf shares his thoughts on broad weakness in Semiconductor stocks.
A Weak Dollar Will Drive Bitcoin Over 100k - All Star Charts
Jason Perz examines the outlook for the US Dollar Index ($DXY) after reaching new 52-week highs this week.
Week before Thanksgiving DJIA Up 20 of 31, But Down 6 of last 7 - Almanac Trader
Jeff Hirsch looks at how stocks have historically performed around Thanksgiving.
Quote of the Day
"We usually lose today, because there has been a yesterday, and tomorrow is coming."
- Johann Wolfgang von Goethe
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