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Today’s Summary
Tuesday, November 16th, 2021
Indices: Dow +0.15% | S&P 500 +0.39% | Nasdaq +0.76% | Russell 2000 +0.17%
Sectors: 5 of the 11 sectors closed higher. Consumer Discretionary led, gaining 1.58%. Communications lagged, falling 0.75%.
Commodities: Crude Oil futures slipped 0.37% to $80.58 per barrel. Gold futures fell 0.78% to $1,852 per ounce.
Currencies: The US Dollar Index continued higher by 0.41% to its highest level in over a year.
Interest Rates: The US 10-year Treasury yield rose to 1.637%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Take a look at home construction breaking out of this 6-month base.$ITB pic.twitter.com/ABceDKjPeJ
— Alfonso Depablos (@AlfCharts) November 16, 2021
Today’s Chart of the Day was shared by Alfonso Depablos (@AlfCharts). It’s a daily candlestick chart of Home Construction ETF, $ITB, over the past 11 months. The largest stocks in this ETF include $DHI, $LEN, $NVR, $PHM, $LOW, $SHW, and $HD. Alfonso points out that $ITB is breaking out to all-time highs for the first time since May. It’s emerging from a 6-month base and looks poised for its next leg higher.
Quote of the Day
“Research is what I’m doing
when I don’t know what I’m doing.”
– Werner von Braun
Top Links
Moderate Risk-On – Cannon Advisors
Damanick Dantes examines the rising correlation between the VIX and the S&P 500.
The Golden Ticket – 22V Research
John Roque shares his thoughts on the recent strength in Gold and Gold Mining Stocks.
The Metaverse – Stocks to Watch – Honey Stocks Charting
Sam McCallum highlights some Metaverse-themed stocks to keep an eye on.
Railroads are On Track – StockCharts.com
Julius de Kempenaer examines the rotation into Materials, Industrials, and Railroads.
The Seasonality Episode with Jeff Hirsch, Author of the Stock Traders Almanac – Technical Analysis Radio
In this podcast, JC Parets and Jeff Hirsch discuss seasonality as we approach the end of the year.
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Our partners at TrendSpider are having their BIGGEST sale of the year is for Black Friday!
Top Tweets
$RSP Equal Wgt $SPX quietly making new highs.
— Frank Cappelleri (@FrankCappelleri) November 16, 2021
$QQEW Nasdaq 100 Equal Weight new highs!#NASDAQ not a bearish sign. pic.twitter.com/LtVtmsq1vt
— Seth Golden (@SethCL) November 16, 2021
Lots of invites for this new high party today: S&P 500, S&P Equal Wgt, Value Line Geometric Indx, Mid-Caps, Industrials . . . pic.twitter.com/BtTu4JYS55
— Willie Delwiche (@WillieDelwiche) November 16, 2021
$XLK Relative to $SPY
This chart tells me to buy uptrends in tech. $SPX $QQQ https://t.co/AIrZoAgtO0 pic.twitter.com/pG8AVzRvci— Sam McCallum ??????? (@honeystocks1) November 16, 2021
Change of heart for hedge funds re: small caps … Russell 2000 futures positioning still net short but climbing sharply pic.twitter.com/avt3wdHZ80
— Liz Ann Sonders (@LizAnnSonders) November 16, 2021
dollar is seriously ripping. You'd probably expect 96 to act as some resistance. If not, wow pic.twitter.com/LW8YSmud0j
— Oliver Renick (@OJRenick) November 16, 2021
$EURUSD – Largest component of US Dollar Index $DXY pic.twitter.com/AcQSItkKOV
— Bhagyashree Urdhwareshe, CMT (@sunsofttech) November 16, 2021
Which gives first? $UUP or $DBC? pic.twitter.com/U61jN1H4wQ
— David Settle, CMT (@davidsettle42) November 16, 2021
Bearish momentum divergence and failed breakout for #Bitcoin $BTC
Bulls want to see the pivot lows ~58k hold pic.twitter.com/sVlkzzjQFS
— Steven Strazza (@sstrazza) November 16, 2021
$ETHUSD testing the prior May high as pot'l support. #etherium #Cryto pic.twitter.com/3Adnwjf2AC
— Andrew Thrasher, CMT (@AndrewThrasher) November 16, 2021
Since $BITO's go-live:$BITO -4.3%$GLD +4.9%$SLV +6.8%$GDX +6.4% pic.twitter.com/jlu8N8OHj9
— Mike Zaccardi, CFA, CMT (@MikeZaccardi) November 16, 2021
There are ways to get gold exposure in your crypto wallets pic.twitter.com/KZMMBP2F3r
— J.C. Parets (@allstarcharts) November 16, 2021
$LCID IS WORTH MORE THAN $F NOW
IN 2020
FORD SOLD 4,200,000 CARS
LUCID SOLD 0 CARS pic.twitter.com/elTbckILJK
— Gurgavin (@gurgavin) November 16, 2021
You’re all caught up now. Thanks for reading!