Daily Chart Report π Thursday, December 12, 2024
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Todayβs Summary
Thursday, December 12, 2024
Indices: Dow -0.53% | S&P 500 -0.54% | Nasdaq -0.68% | Russell 2000 -1.38%
Sectors: 2 of the 11 sectors closed higher. Consumer Staples led, gaining +0.29%. Consumer Discretionary lagged, falling -0.83%.
Commodities: Crude Oil futures fell -0.38% to $70.02 per barrel. Gold dropped -1.72% to $2,709 per oz.
Currencies: The US Dollar Index closed higher for the fifth day, gaining +0.36% to $107.00.
Crypto: Bitcoin fell -1.12% to $100,068. Ethereum rose +1.24% to $3,883.
Volatility: The Volatility Index gained +2.51% to 13.91.
Interest Rates: The US 10-year Treasury yield rose to 4.328%.
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 Evan Medeiros (@evanmedieros).
- After making an all-time high last Wednesday, the Dow has dripped lower for six consecutive days, pulling back a measly -2.5% on a closing basis.
- Evan points out that volume has been below average throughout this orderly pullback. The uptrend remains completely intact, as $DIA hasn't yet made a lower low.
- Six-day losing streaks are more common than you might think, but if the Dow closes lower again tomorrow, it will be the first seven-day losing streak since the COVID crash of February 2020.
The Takeaway: The Dow fell for the sixth consecutive day, but the pullback has been quiet and orderly.
Top Links
Nasdaq Tops 20,000 - LPL Financial Research
Adam Turnquist points out that yesterday, the Nasdaq Composite closed above 20k for the first time in history.
Today's Number is 8... - The Daily Number
Grant Hawkridge looks at the persistent lack of participation beneath the surface of the S&P 500.
Material's Nine-Day Losing Streak - Alfonso's Daily Note
Alfonso's De Pablos examines the recent weakness in the Materials Sector ($XLB).
The Amazon of South Korea - All Star Charts
JC Parets points out that Coupang ($CPNG) is moving higher alongside $AMZN.
Quote of the Day
βCharts donβt give answers; they raise questions. Inferences are drawn when enough questions point in the same direction.β
- Mark Ungewitter
Top Tweets