Daily Chart Report ? Friday, November 5th, 2021
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Today’s Summary
Friday, November 5th, 2021
Indices: Dow +0.56% | S&P 500 +0.37% | Nasdaq +0.20% | Russell 2000 +1.44%
Sectors: 10 of the 11 sectors closed higher. Energy led, gaining 1.30%. Health Care was the only sector that closed lower, falling 1.12%.
Commodities: Crude Oil futures rebounded 3.12% to $81.27 per barrel. Gold futures gained 1.30% to $1,817 per ounce.
Currencies: The US Dollar Index slipped 0.12%.
Interest Rates: The US 10-year Treasury yield dropped to 1.455%.
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 Willie Delwiche (@WillieDelwiche). It's a chart of the Nasdaq Composite along with the number of new 52-week highs within the index. The Nasdaq just closed higher for the 10th consecutive day and the 5th consecutive week. Willie points out that we haven't seen this many new highs within the Nasdaq since March. It wouldn't be shocking to see the index cool off in the short term, given the face-ripping rally we've seen recently. However, in a comment, Willie explained that this is a bullish development longer-term; "New highs expanding is one of the most bullish things we can see from the stock market. When they stop expanding and start to contract is when we start to see trouble."
Quote of the Day
“Success is no accident. It is hard work, perseverance, learning, studying, sacrifice, and most of all, love of what you are doing or learning to do.”
- Pelé
Top Links
Weekly Market Performance - LPL Financial Research
The team at LPL Financial Research recaps this week's market performance.
Best and Worst Performers Since the COVID Crash Low - Bespoke
Bespoke breaks down the best and worst-performing stocks in the S&P 1500 since the March 2020 low.
Growth Takes the Lead Again - Potomac Fund Management
Dan Russo takes a look at a few important risk ratios.
Typical November Trading: Firm Begining, Tepid Across Mid-Month, Rally to Close - Almanac Trader
Seasonality expert, Jeff Hirsch examines how stocks have historically performed throughout November.
Fill the Gap Episode 11, with Special Guest Irusha Peiris, CMT - CMT Association
In this podcast, Irusha Peris shares some insights on his career and investment process.
Top Tweets
$QQQ up today for a 10th day in a row. Happened zero times 2000-09 and 7 times since, none a top of any significance. Chart from @TradewellApp pic.twitter.com/Hnu3Fxe1pw
— Urban Carmel (@ukarlewitz) November 5, 2021
You’re all caught up now. Thanks for reading!