Daily Chart Report ? Monday, November 29th, 2021
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Today’s Summary
Monday, November 29th, 2021
Indices: Dow +0.68% | S&P 500 +1.32% | Nasdaq +1.88% | Russell 2000 -0.18%
Sectors: All 11 sectors closed higher. Tech led, gaining 2.50%. Industrials lagged but still inched higher by 0.17%.
Commodities: Crude Oil futures rebounded 2.64% to $69.95 per barrel. Gold futures were flat and continue to trade around $1,786 per ounce.
Currencies: The US Dollar Index gained 0.14%.
Interest Rates: The US 10-year Treasury yield rose to 1.500%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
S&P 500 returns following largest $VIX spikes...
Takeaway: the market tends to rise over time and tends to rise more following volatility spikes (note: on average, there are always exceptions and this latest spike could very well be one). pic.twitter.com/NsfshBynfW
— Charlie Bilello (@charliebilello) November 27, 2021
Today’s Chart of the Day was shared by Charlie Bilello (@charliebilello). While most of us were in a food coma during Friday’s half-session, the Volatility Index shot up 54%. Charlie points out that this was the fourth largest 1-day % gain for the VIX ever. The table on the right shows the S&P 500’s forward total returns following some of the largest VIX spikes in history. On average, the S&P 500 has been positive across the board whether we’re talking 1-week later or 1-year later. Will this time be different?
Quote of the Day
“Wall Street never discounts the same thing twice.”
– Old Adage
Top Links
When Black Friday Falls – Almanac Trader
Seasonality expert, Jeff Hirsch examines how the S&P 500 has historically performed after falling on Black Friday.
5 Charts to Watch This Week – PFT Trading
Greg Rieben highlights five charts to keep an eye on this week.
Texas Tea Double Digit Dip – Bespoke
Bespoke takes a look at what has historically happened when Crude Oil drops 10% or more in a single day like it did on Friday.
It Came From Left Field – IronBridge Private Wealth
Jim Denholm shares his thoughts on Friday’s Vol-cano.
Charts Baseball and Being Nice w/ John Roque – Technical Analysis Radio
In this podcast, JC Parets interviews John Roque of 22V Research. They discuss the shortcomings of technical indicators and more.
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Top Tweets
You’re all caught up now. Thanks for reading!