Daily Chart Report ? Friday, November 19th, 2021
Sponsored By:
Today’s Summary
Friday, November 19th, 2021
Indices: Dow -0.75% | S&P 500 -0.14% | Nasdaq +0.40% | Russell 2000 -0.86%
Sectors: 3 of the 11 sectors closed higher. Technology led, gaining 0.73%. Energy lagged, dropping 3.90%.
Commodities: Crude Oil futures dropped 3.15% to $75.94 per barrel. Gold futures fell 0.53% to $1,852 per ounce.
Currencies: The US Dollar Index rose 0.57%.
Interest Rates: The US 10-year Treasury yield fell to 1.551%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
...and breakout! Long #FANGAM. pic.twitter.com/DrImR2XAM6
— Brian G (@alphacharts) November 19, 2021
Today's Chart of the Day was shared by Brian G (@alphacharts). It's a ratio chart of some of the largest stocks in the market vs. the S&P 500. We're talkin' $FB, $AMZN, $MSFT, $AAPL, $NFLX, and $GOOGL. Mega-Cap Tech dominated this week, while Small and Micro-Cap stocks struggled. Brian points out that this equally weighted basket of Mega-Cap Tech darlings is breaking out to fresh relative highs for the first time in more than a year. These 5 stocks collectively represent more than 20% of the S&P 500, so it's not bearish to see these juggernauts reassert their leadership. However, it would be more encouraging if we also had broader participation from Small and Micro-Caps.
Quote of the Day
“Every past market crash looks like an opportunity, but every future market crash looks like a risk.”
- Morgan Housel
Top Links
Another Look at Thanksgiving - Quantifiable Edges
Rob Hanna takes a look at how the S&P 500 has historically performed around Thanksgiving.
Energy Stocks Losing Steam - All Star Charts
The team at All Star Charts points out that several sectors and indices are on the verge of printing failed breakouts.
Global Supremecy - The Rotation Report
Aaron Jackson highlights some noteworthy technical developments from the past week
Is the Transportation ETF (IYT) Doubling Topping at 2021 High? - Kimble Charting Solutions
Chris Kimble points out that Transports are stalling at resistance from the May highs.
Crypto Update - AlphaCharts Blog
Brian G. gives an update on the Crypto space.
Top Tweets
You’re all caught up now. Thanks for reading!