Daily Chart Report ? Thursday, November 18th, 2021
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Today’s Summary
Thursday, November 18th, 2021
Indices: Dow -0.17% | S&P 500 +0.34% | Nasdaq +0.45% | Russell 2000 -0.56%
Sectors: 3 of the 11 sectors closed higher. Consumer Discretionary led, gaining 1.13%. Communications lagged, falling 0.72%.
Commodities: Crude Oil futures rose 1.11% to $78.41 per barrel. Gold futures fell 0.47% to $1,861 per ounce.
Currencies: The US Dollar Index dropped 0.30%.
Interest Rates: The US 10-year Treasury yield inched lower to 1.589%.
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 Pratty Tulsian (@PrattyCharts). This is one of the most-watched charts right now. It’s a daily candlestick chart of the Russell 2000 ETF, $IWM, over the past year. The Russell 2000 broke out a few weeks ago after being stuck in a tight range for the majority of the year. From there, it quickly popped about 3.5% in 4 days, but it has given those gains back and is now retesting the breakout level around $234. This former resistance level should act as support here. If it doesn’t, that would qualify as a failed breakout, which could get ugly. Keep an eye on how this test plays out in the coming days.
Quote of the Day
“Hindsight is always twenty-twenty.”
– Billy Wilder
Top Links
November Conference Call: 5 Key Takeaways – All Star Charts
The team at All Star Charts highlights five things to watch in the month ahead.
Tech is Leading Again – LPL Financial Research
The team at LPL Financial Research points out that the Tech sector is breaking out relative to the S&P 500 after 14-months.
Breadth Metrics Move Lower as Equity Pause Continues – Potomac Fund Management
Dan Russo shares his weekly breadth analysis.
Sentiment Back to Average – Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
November Monthly Options Expiration Week: DJIA Best – Almanac Trader
Jeff Hirsch examines how stocks have historically performed around November options expiration.
Top Tweets
You’re all caught up now. Thanks for reading!