Daily Chart Report π Wednesday, December 4, 2024
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Todayβs Summary
Wednesday, December 4, 2024
Indices: Nasdaq +1.24% | Dow +0.69% | S&P 500 +0.61% | Russell 2000 +0.42%
Sectors: 4 of the 11 sectors closed higher. Technology led, gaining +1.83%. Energy lagged, dropping -2.41%.
Commodities: Crude Oil futures fell -2.00% to $68.54 per barrel. Gold rose +0.31% to $2,676 per oz.
Currencies: The US Dollar Index was flat at $106.35.
Crypto: Bitcoin rose +2.97% to $98,773. Ethereum gained +6.24% to $3,843.
Volatility: The Volatility Index rose +1.13% to 13.46.
Interest Rates: The US 10-year Treasury yield dropped to 4.18%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by @DualityResearch.
- While Mega-Cap Tech has stolen the spotlight this week, smaller speculative Tech names have also made a notable push higher.
- The Ark Innovation ETF ($ARKK) is up +4.9% this week, closing at its highest in 2Β½ years. The top holdings include $TSLA (14.3%), $COIN (9.6%), $ROKU (8.9%), $RBLX (5.7%), and $PLTR (4.5%).
- Last December, $ARKK registered its first 52-week high in nearly three years. Despite building a solid base this year, the fund saw net outflows, suggesting investors have capitulated on their speculative bets from the last bull market.
The Takeaway: $ARKK is trying to establish a new uptrend after flushing out the bag holders.
Top Links
Today's Number is... 20% - The Daily Number
Grant Hawkridge examines the S&P 500's historical performance after an annual gain of +20% or more.
Biggest Winners and Losers Since the Election - Bespoke
Bespoke breaks down the post-election winners and losers.
After a 29% Bounce, Can SMCI Reclaim Its Former Glory? - Stock Charts
Karl Montevirgin shares a roadmap for Super Micro Computers ($SMCI).
The Next Stop for BTC - Alfonso's Daily Note
Alfonso De Pablos examines the technical outlook for Bitcoin.
Quote of the Day
"Predicting rain doesn't count,
building the ark does."
- Warren Buffett
Top Tweets