Daily Chart Report ? Tuesday, November 30th, 2021
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Today’s Summary
Tuesday, November 30th, 2021
Indices: Dow -1.86% | S&P 500 -1.90% | Nasdaq -1.55% | Russell 2000 -1.92%
Sectors: All 11 sectors closed lower. Tech led, but still fell 0.83%. Communications lagged, dropping 3.17%.
Commodities: Crude Oil futures tumbled 5.39% to a three-month low of $66.18 per barrel. Gold futures fell 0.49% to $1,777 per ounce.
Currencies: The US Dollar Index slipped 0.31%.
Interest Rates: The US 10-year Treasury yield dropped to 1.449%.
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 Elena Popina (@lena_popina). It’s a chart of the Small-Cap Russell 2000 Index over the past year. There’s an old adage about failed breakouts – “from failed moves come fast moves in the opposite direction”….and that’s exactly the case for the Russell 2000 right now. The index broke out to an all-time high at the beginning of the month after being stuck in a tight range for the majority of the year. That breakout quickly failed, and it has taken just 15 trading days for the Russell to fall 10% (9.98% on a closing basis to be exact). Small-Caps often lead the broader market higher or lower. So, it’s concerning to see them fall so precipitously. If the Russell 2000 can’t catch a bid soon, it would suggest further downside for the broader market.
Quote of the Day
"When the time comes to buy, you won't want to."
- Walter Deemer
Top Links
First Trading Day of December: Leans Bearish but Numerous Sizeable Gains - Almanac Trader
Seasonality expert, Jeff Hirsch examines how stocks have historically performed on the first trading day of December (tomorrow).
Who Charted? - The Start of Something Bigger? - Potomac Fund Management
In this quick video, Dan Russo and Drew Wells break down 6 charts in 6 minutes.
Technology and Communication Services Diverge - Bespoke
Bespoke points out that two historically correlated sectors are moving in opposite directions.
Divergence is Back - StockCharts.com
Julius de Kempenaer takes a look at the leading and lagging sectors of the S&P 500.
Bitcoin's Successful Test of Support in Weekend Sell-Off Puts it Back on Track to Rise 53% From Current Levels, Katie Stockton Says - Business Insider
Katie Stockton shares her technical perspective on Bitcoin.
Top Tweets
You’re all caught up now. Thanks for reading!