Daily Chart Report πŸ“ˆ Thursday, December 5, 2024

Patrick Dunuwila
December 5, 2024

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Today’s Summary

Thursday, December 5, 2024



Indices: S&P 500 -0.19% | Nasdaq 100 -0.31% | Dow -0.55% | Russell 2000 -1.25%

Sectors: 5 of the 11 sectors closed higher. Consumer Discretionary led, gaining +0.82%. Materials lagged, falling -1.32%. 

Commodities: Crude Oil futures fell -0.35% to $68.30 per barrel. Gold dropped -1.04% to $2,648 per oz.                  
 
Currencies: The US Dollar Index dropped -0.59% to $105.73.

Crypto: Bitcoin fell -1.74% to $97,057. Ethereum fell -1.42% to $3,789.

Volatility: The Volatility Index rose +0.52% to 13.53.

Interest Rates: The US 10-year Treasury yield was flat at 4.178%. 

 

Here are the best charts, articles, and ideas shared on the web today!
 

 


Chart of the Day 


πŸ† Today's Chart of the Day was shared by Frank Cappelleri (@FrankCappelleri).
 

  • The US Global Jets ETF ($JETS) has taken off recently, closing at its highest level in 3Β½ years. 
     
  • Airlines have been dead money since the pandemic, but Frank points out that the group has gained some serious momentum recently, with weekly RSI reaching an all-time high of 80.
     

  • While RSI is technically overbought (above 70), it's still confirming the recent highs rather than diverging. The top holdings in $JETS include:

    $UAL - United Airlines  (15.4%)
    $DAL - Delta Air Lines (11.1%)
    $AAL - American Airlines (10.2%)
    $LUV - Southwest Airlines (8.8%)
    $ALGT - Allegiant Travel (4.7%) 


    The Takeaway: Airline stocks are gaining momentum after a grueling multi-year bottoming phase. 


 

Top Links

Today's number is... 0 - The Daily Number
Grant Hawkridge checks on market sentiment. 

Market Sentiment Could be a Threat to the Bull Market in Early 2025 Says Renaissance's Jeff deGraaf - CNBC
Jeff deGraaf shares his thoughts on sentiment and the current market environment. 

Apple to $5 Trillion - Alfonso's Daily Note
Alfonso De Pablos points out that Apple Inc. ($AAPL) could reach a $5 Trillion market cap soon. 

Bitcoin Parties Like Its $99,999 - Trading Adventures
Andy Moss breaks down this week's price action. 

This Breakout is REAL - The Strazza Letter
Steve Strazza highlights two retail stocks showing potential upside: Real Real Inc. ($REAL) and Revolve Group ($RVLV).

 

 

Quote of the Day

β€œHave an opinion on what the market should do but don’t decide what the market will do.” 

- Bernard Baruch


 

Top Tweets

 

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