Daily Chart Report ? Wednesday, November 24th, 2021
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Today’s Summary
Wednesday, November 24th, 2021
Indices: Dow -0.03% | S&P 500 +0.23% | Nasdaq +0.44% | Russell 2000 +0.15%
Sectors: 6 of the 11 sectors closed higher. Real Estate led, rising 1.34% to a fresh all-time high. Materials lagged, falling 0.71%.
Commodities: Crude Oil futures inched lower by 0.23% to $78.32 per barrel. Gold futures were flat and continue to trade around $1,784 per ounce.
Currencies: The US Dollar Index rose 0.37% to its highest level in more than a year.
Interest Rates: The US 10-year Treasury yield fell to 1.638%.
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 Jeff Hirsch (@AlmanacTrader). The S&P 500 is up about 25% so far this year. The table looks at all the prior instances over the past 70 years where the S&P 500 was up 10% or more heading into Thanksgiving. A few key takeaways; December has been positive 76% of the time for an average gain of 2.0%. The rest of the year (Tuesday before Thanksgiving through the end of the year) has been positive about 70% of the time for an average gain of 2.3%. Lastly, the S&P 500 has never ended the year down when it was up double-digits heading into Thanksgiving. If history is any guide, the S&P 500 will likely see further gains by the end of 2021. For more on this, check out the full note here.
Quote of the Day
"When I started counting my blessings,
my whole life turned around."
- Willie Nelson
Top Links
A Consolidation After A New $SPY High - Quantifiable Edges
Rob Hanna shows why the S&P 500 is likely to resolve higher out of its recent range.
It Doesn't Take Much to Ease Bullish Sentiment - Potomac Fund Management
Dan Russo points out that the S&P 500's recent pause may have helped to reset frothy sentiment.
When Stocks Are Up Big YTD Before Thanksgiving - Almanac Trader
Seasonality expert Jeff Hirsch takes a look at how the S&P 500 has historically performed when the S&P 500 was up 10% or more YTD by Thanksgiving.
The Inflation Obsession - The Rotation Report
Aaron Jackson shares his thoughts on inflation and some noteworthy charts.
16 Talking Points That'll Make You Sound Smart at Thanksgiving ?? - TKer
Sam Ro lays out 16 fun facts to drop on your family and friends this Thanksgiving...even if they didn't ask.
Top Tweets
A nice looking reversal starting to emerge here in $IWM after a nearly two weeks long retracement... pic.twitter.com/85A1QUtkws
— Traderstewie (@traderstewie) November 24, 2021
"For all the hate gold gets, you’d think it’s in a massive drawdown or something." $GLD pic.twitter.com/hupetfWlTa
— Brian G (@alphacharts) November 24, 2021
You’re all caught up now. Happy Thanksgiving!