Daily Chart Report ๐ Friday, December 13, 2024
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Todayโs Summary
Friday, December 13, 2024
Indices: Nasdaq 100 +0.76% | S&P 500 0.00% | Dow -0.20% | Russell 2000 -0.60%
Sectors: 3 of the 11 sectors closed higher. Technology led, gaining +0.43%. Communications lagged, falling -1.19%.
Commodities: Crude Oil futures rose +1.81% to $71.29 per barrel. Gold dropped -1.24% to $2,676 per oz.
Currencies: The US Dollar Index ticked lower by -0.06% to $106.95.
Crypto: Bitcoin rose +1.37% to $101,435. Ethereum rose +0.65% to $3,908.
Volatility: The Volatility Index fell -0.79% to 13.80.
Interest Rates: The US 10-year Treasury yield advanced for the sixth consecutive day to 4.401%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Today's Chart of the Day was shared by CyclesFan (@CyclesFan).
- The S&P 500 has ticked slightly higher over the past two weeks. However, breadth has been undeniably poor, with the S&P 500 experiencing ten consecutive days of net declining issues.
- @CyclesFan points out that the McClellan Oscillator has reached oversold levels at -71. While it could continue to deteriorate, it's approaching levels typically associated with a washout in market breadth.
- The uptrend has remained fully intact, and we're sitting at the seasonal sweet spot for December.
The Takeaway: Breadth is reaching oversold levels, and the uptrend remains intact as we enter a seasonal inflection point.
Top Links
Mag 7 Rotation, No Bid in Sight for Treasuries, & Fed on Deck - The Trade Risk
Evan Medeiros breaks down this week's price action.
Today's number is... 7 - The Daily Number
Grant Hawkridge looks at market breadth.
Looking for Clues - The Weekly Trend Podcast
Ian McMillan and David Zarling discuss the recent trends and themes in the market.
Finding My Edge - All Star Charts
Sam Gatlin examines the Biotech sector.
Homebuilders - Bart's Charts
James Bartelloni points to a potential top in the Homebuilder ETF ($XHB).
Quote of the Day
"A smile will gain you ten more years of life."
- Chinese Proverb
Top Tweets