Daily Chart Report π Monday, December 23, 2024
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Todayβs Summary
Monday, December 23, 2024
Indices: Nasdaq 100 +1.01% | S&P 500 +0.73% | Dow +0.16% | Russell 2000 -0.22%
Sectors: 4 of the 11 sectors closed higher. Technology led, gaining +0.89%. Consumer Staples lagged, falling -1.28%.
Commodities: Crude Oil futures fell -0.32% to $69.24 per barrel. Gold fell -0.64% to $2,628 per oz.
Currencies: The US Dollar Index rose +0.25% to $108.08.
Crypto: Bitcoin fell -0.37% to $94,750. Ethereum rose +4.26% to $3,418.
Volatility: The Volatility Index dropped -8.61% to 16.77.
Interest Rates: The US 10-year Treasury yield rose to a six-month high of 4.589%.
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 Grant Hawkridge (@granthawkridge).
- With breadth rebounding over the past two days, the clock has started on a potential Zweig Breadth Thrust. This bullish signal occurs when breadth quickly recovers from oversold conditions.
- Created by Marty Zweig, this indicator is calculated using a 10-Day EMA of the number of advancing stocks on the NYSE, divided by the total number of stocks on the NYSE. A buy signal occurs when the indicator moves from below 0.40 to above 0.61 within 10 trading days or less.
- While this signal is rare, returns have historically been very bullish. According to data from the Leuthold Group, the S&P 500 has always been higher six months later, with an average gain of +16.2%.
The Takeaway: The clock has started on a potential Zweig Breadth Thrust. If this rare buy signal occurs over the next few days, it will be very bullish for 2025.
Top Links
Will The Santa Claus Rally Come In 2024? π
ββππ€Ά - Carson Research
Ryan Detrick examines the Santa Claus Rally.
It's Just 30 Stocks. Let's Go Through Each of Them - All Star Charts
JC Parets looks at the Dow Jones Industrial Average.
The Great Fed Debate - The Rotation Report Podcast
Aaron and Dan of the Rotation Report discuss the current trends and themes in the market.
Is 2024 Similar to the Latter Stages of the Internet Bubble? - Ciovacco Capital Management
Chris Ciovacco compares the current market environment to the internet bubble.
Quote of the Day
βIf Santa should fail to call,
bears may come to Broad and Wall.β
- Yale Hirsch
Top Tweets