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Today’s Summary
Friday, December 29, 2023
Indices: Dow -0.05% | S&P 500 -0.28% | Nasdaq -0.43% | Russell 2000 -1.52%
Sectors: 2 of the 11 sectors closed higher. Consumer Staples led, rising +0.21%. Real Estate lagged, falling -1.09%.
Commodities: Crude Oil futures inched lower by -0.17% to $71.65 per barrel. Gold futures fell -0.56% to $2,072 per oz.
Currencies: The US Dollar Index rose +0.17% to $101.38.
Crypto: Bitcoin fell -1.20% to $42,072. Ethereum dropped -1.96% to $2,300.
Volatility: The Volatility Index fell -0.32% to 12.44.
Interest Rates: The US 10-year Treasury yield rose to 3.866%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
The S&P 500 just closed out 2023 with its highest monthly close EVER.
The index rose +24.73% this year. 🐂 pic.twitter.com/RmHxlHyDW6
— TrendSpider (@TrendSpider) December 29, 2023
Today’s Chart of the Day was shared by TrendSpider (@TrendSpider). Another year is in the books! The S&P 500 gained more than 24% in 2023, recovering nearly all of its losses from 2022. It almost reached all-time highs today but closed just 0.56% below. This marks the first year in over a decade without all-time highs on a daily closing basis. However, TrendSpider points out that the index did achieve all-time highs on a monthly closing basis today. Monthly record highs typically precede weekly and daily record highs. As we focus on 2024, the S&P 500 looks poised to resume its long-term uptrend after two years without progress. It has built a solid base to launch higher from, and you know what they say about big bases… “The bigger the base, the higher in space!
Quote of the Day
“The beginning is the most important part of the work.”
– Plato
Top Links
2024 Should See a Strong Q1 and Q4, Says Piper Sandler’s Craig Johnson – CNBC
Craig Johnson shares his technical outlook for 2024.
January Seasonality: Have Returns Pulled Forward? – LPL Financial Research
George Smith looks at January seasonality for the S&P 500.
DJIA and NASDAQ Best on First Trading Day of New Year – Almanac Trader
Jeff Hirsch looks at how stocks have historically performed on the first trading day of the year.
2023 Year End Stock Market Analysis – Alphatrends
Brian Shannon reviews this year’s performance and some key levels to pay attention to in the near term.
A Recession Isn’t Expected Next Year, Says Carson’s Ryan Detrick – CNBC
Ryan Detrick offers his thoughts on the year ahead.
Top Tweets
The NASDAQ 100 $QQQ closed 2023 up 54% its best year since 1999
The S&P 500 $SPY closed 2023 up 24% while the Russell 2000 was up 15% and the Dow Jones was up 14% pic.twitter.com/t0Mdo9EPwu
— Evan (@StockMKTNewz) December 29, 2023
Highest monthly closes in the history of the S&P500 and Nasdaq100. So if math means anything to you, these are probably not downtrends. pic.twitter.com/YBq1jH2qyb
— J.C. Parets (@allstarcharts) December 30, 2023
S&P 500 just closed the year with its 9th consecutive up week, marking the longest weekly win streak since 1985 $SPX
1989 & 2004 also experienced 9-week streaks
The record is 13 straight, which happened in 1957
Happy New Year, bulls 🥂 pic.twitter.com/GVPF0rVIIJ
— Steven Strazza (@sstrazza) December 29, 2023
Russell 2000 on the verge of an historic 9-week move that we have only seen a handful of times…$RUT $IWM $RTY_F pic.twitter.com/XxTqTjM83e
— Ian McMillan, CMT (@the_chart_life) December 29, 2023
Incredible.
For only the 4th time since 1950, the McClellan Summation Index for the S&P 500 is set to cross +1500.
The only precedents are the ends of the bear markets in 1970, 1974, and early 2010s. pic.twitter.com/aq1DFutuIW
— Jason Goepfert (@jasongoepfert) December 29, 2023
Zweig thrust since 1960. pic.twitter.com/oaeOzzqEKo
— Mark Ungewitter (@mark_ungewitter) December 29, 2023
2023 was the first year since 2012 without a single all-time high in the S&P 500 Index. pic.twitter.com/3Gk9kfpdbF
— Charlie Bilello (@charliebilello) December 30, 2023
🟩🟩🟩🟥🟥🟩🟩🟩
The official end-of-year Heat Map of the S&P 500 (which closed higher by 24% in 2023).
Some really impressive movers (considering their size) were $NVDA $META $TSLA $AMD $UBER $CRM $ANET and $AVGO!
🟩🟩🟩🟥🟥🟩🟩🟩 pic.twitter.com/X1NdDZxwwI
— Brandon Van Zee (@BrandonVanZee) December 29, 2023
best year EVER for $META and it's not even close — up almost 200% in 2023
Zuckerberg's “year of efficiency'' delivered pic.twitter.com/CPLjqoFAsX
— Katie Greifeld 🎄 (@kgreifeld) December 29, 2023
$AGG +8.5% last 2 months.
2nd-best in its history. pic.twitter.com/Iv8OLP21Jq— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) December 29, 2023
This Year's Winner is Bitcoin 🏆 pic.twitter.com/Y9QFi0V0Jh
— Michael Saylor⚡️ (@saylor) December 29, 2023