Daily Chart Report ? Thursday, November 4th, 2021
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Today’s Summary
Thursday, November 4th, 2021
Indices: Dow -0.09% | S&P 500 +0.42% | Nasdaq +0.81% | Russell 2000 -0.08%
Sectors: 6 of the 11 sectors closed higher. Technology led, gaining 1.56%. Financials lagged, falling 1.31%.
Commodities: Crude Oil futures dropped 2.54% to $78.81 per barrel. Gold futures rebounded 1.68% to $1,794 per ounce.
Currencies: The US Dollar Index rose 0.51%.
Interest Rates: The US 10-year Treasury yield dropped to 1.531%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Steve Strazza (@sstrazza). It’s a chart of the Value Line Geometric Index over the past year. This is an equally weighted index that contains about 1,700 stocks. It uses a geometric average, so the daily change reflects the median stock price change. In other words, It provides a broader and more accurate representation of the stock market than popular benchmarks like the Dow or S&P 500. Steve points out that it’s breaking out to all-time highs for the first time in five months. This is further evidence that the market is broadening out and has more room to run.
Quote of the Day
“Gamblers obsess with big potential upside windfall profits. Intelligent speculators obsess with managing downside risk."
- Peter Brandt
Top Links
Best Consecutive Three-Month Span Begins With November - Almanac Trader
Seasonality expert, Jeff Hirsch points out that November kicks off what has historically been the best three-month stretch of the year for stocks.
Sentiment Soaring Across Surveys - Bespoke
Bespoke breaks down the results of the latest sentiment surveys.
Small Stocks Just Made a Big Move - SentimenTrader
Jason Goepfert examines the recent breakout in the Russell 2000.
A "Breadth" of Fresh Air - Potomac Fund Management
Dan Russo shares his weekly breadth analysis.
Breakouts and Breadth Expansion - All Star Charts
The team at All Star Charts takes a look at the recent improvement in breadth.
Top Tweets
You’re all caught up now. Thanks for reading!