Daily Chart Report ๐ Tuesday, November 19, 2024
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Todayโs Summary
Tuesday, November 19, 2024
Indices: Russell 2000 +0.80% | Nasdaq +0.71% | S&P 500 +0.40% | Dow -0.28%
Sectors: 6 of the 11 sectors closed higher. Technology led, gaining +0.82%. Financials lagged, falling -0.66%.
Commodities: Crude Oil futures inched higher by +0.10% to $69.24 per barrel. Gold gained +0.63% to $2,631 per oz.
Currencies: The US Dollar Index fell -0.07% to 106.15.
Crypto: Bitcoin rose +2.11% to an all-time high of $92,424. Ethereum dropped -3.04% to $3,112.
Volatility: The Volatility Index rose +4.95% to 16.34.
Interest Rates: The US 10-year Treasury yield fell to 4.398%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Today's Chart of the Day was shared by Trend Spider (@TrendSpider).
- The S&P 500 fell as much as -0.65% this morning. However, it closed higher by +0.40% after successfully testing Friday's low and rallying throughout the session.
- Today's reversal produced a Bullish Engulfing candle that covered the previous two candles. @TrendSpider points out that $SPX refused to break the October highs, suggesting former resistance has become support.
- $NVDA led the index higher today, gaining +4.9% ahead of its earnings report tomorrow evening. The stock is approaching all-time highs after pulling back nearly -6% on a closing basis over the past week.
The Takeaway: The S&P 500 printed a Bullish Engulfing candle today after finding support at the October highs. $NVDA was today's top contributor, gaining traction ahead of tomorrow's highly anticipated earnings report.
Top Links
Feast On Small Caps Thanksgiving to Santa Claus Rally Trade - Almanac Trader
Jeff Hirsch looks at the tendency for Small Caps to outperform between Thanksgiving and the New Year.
Health Care Weightloss - Bespoke
Bespoke examines the recent weakness in the Health Care sector.
BTC is Back on Top - Alfonso's Daily Note
Alfonso Depablos points out that Bitcoin is trying to break out relative to the Dow.
The History and Evolution of Technical Analysis on Wall Street - Bloomberg Intelligence
Join us tomorrow at Bloomberg's Park Ave office in NYC as the CMT Association and Bloomberg Intelligence celebrate the History of Technical Analysis with some of the industry's greatest minds.
Quote of the Day
โThe tape tells all, and our job is to learn how to listen properly.โ
- Stan Weinstein
Top Tweets