Daily Chart Report ? Monday, November 22nd, 2021
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Today’s Summary
Monday, November 22nd, 2021
Indices: Dow +0.05% | S&P 500 -0.32% | Nasdaq -1.26% | Russell 2000 -0.50%
Sectors: 6 of the 11 sectors closed higher. Energy led, gaining 1.77%. Communications lagged, falling 1.22%.
Commodities: Crude Oil futures rose 0.72% to $76.49 per barrel. Gold futures tumbled 2.47% to $1,806 per ounce.
Currencies: The US Dollar Index rose 0.45% to a fresh 52-week high.
Interest Rates: The US 10-year Treasury yield moved higher to 1.629%.
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 Jonathan Harrier (@jonathanharrier). Small-Cap breadth has been pretty weak lately. As of Friday, more than 35% of Russell 2000 stocks had been down for at least three days in a row. Jonathan backtested how the Russell 2000 has historically performed following this sort of weakness. There have been 24 prior instances in the past five years. One month later, the Russell 2000 was higher 75% of the time, for an average gain of 3.63% and a median gain of 3.94%. Check out the full backtest results here.
Quote of the Day
“Those who dare to fail miserably can achieve greatly.”
- John F. Kennedy
Top Links
Trying to Understand the Bear Case - Means to a Trend
Austin Harrison considers the bear case for stocks.
No Case of the Mondays to be Found - Bespoke
Bespoke points out that Monday has been the strongest day of the week for the S&P 500 throughout the current bull market.
New All Time Highs - All Star Charts
JC Parets highlights some pockets of strength within the market, including Tech, Consumer Discretionary, and Homebuilders.
The Great Small Cap Lie - The Rotation Report
Aaron Jackson points out that Small-Caps still have a lot of work to do in terms of breadth.
The Trend is Your Friend - The Weekly Trend
In this podcast, David Zarling and Ian McMillan discuss several of the most important technical developments.
Top Tweets
You’re all caught up now. Thanks for reading!