Daily Chart Report πŸ“ˆ Wednesday, December 11, 2024

Patrick Dunuwila
December 11, 2024

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Stock Market Media

Today’s Summary

Wednesday, December 11, 2024

 


Indices: Nasdaq 100 +1.85% | S&P 500 +0.82% | Russell 2000 +0.48% | Dow -0.22%

Sectors: 5 of the 11 sectors closed higher. Consumer Discretionary led, gaining +1.76%. Health Care lagged, falling -1.36%. 

Commodities: Crude Oil futures rose +2.48% to $70.29 per barrel. Gold rose +1.41% to $2,757 per oz.                  
 
Currencies: The US Dollar Index rose +0.25% to $106.65.

Crypto: Bitcoin rose +4.71% to $101,201. Ethereum gained +5.64% to  $3,835.

Volatility: The Volatility Index dropped -4.37% to 13.57.

Interest Rates: The US 10-year Treasury yield rose to 4.273%. 

 

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 Larry Thompson (@HostileCharts). 
 

  • After pulling back -1% over the past three sessions, The Nasdaq 100 ($QQQ) rebounded to an all-time high today. 
     
  • Larry points out that $QQQ is stair-stepping higher in an orderly fashion while breaking out of a five-month base relative to the S&P 500 ($SPY). 
     
  • While RSI failed to confirm today's high, it continues to trend higher in a bullish range (above 50).  
     

The Takeaway: The Nasdaq 100 ($QQQ) is breaking out to all-time highs on an absolute basis while emerging from a five-month base relative to the S&P 500. 

 

Top Links

Will Santa Show Up This Year? πŸŽ…πŸ“ˆ - Alfonso's Daily Note
Alfonso De Pablos looks at the Santa Claus Rally, which begins at the end of the month.

Magnificent Seven of China - The Strazza Letter
Steve Strazza breaks down the biggest and best stocks in China.  

The S&P 500's 6,100 Price Target has Been Hit - CappThesis
Frank Cappelleri analyzes the recent price action and patterns in the S&P 500. 

Unveiling Euro Equity Trends - Strategas Asset Management
Todd Sohn examines the trends in Europe. 

Copper’s Rally Gaining Momentum as Historically Bullish Season Arrives - Almanac Trader
Jeff Hirsch highlights the seasonal trend for Copper. 

 
 

Quote of the Day

β€œTrade the market in front of you,
not the one you want.”

- Scott Redler

 

Top Tweets

 

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