Daily Chart Report ? Wednesday, December 1st, 2021
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Today’s Summary
Wednesday, December 1st, 2021
Indices: Dow -1.34% | S&P 500 -1.18% | Nasdaq -1.83% | Russell 2000 -2.34%
Sectors: 10 of the 11 sectors closed lower. Utilities was the only sector that closed higher, inching up 0.18%. Communications lagged, dropping 2.31%.
Commodities: Crude Oil futures fell 0.92% to a three-month low of $65.57 per barrel. Gold futures rose 0.44% to $1,784 per ounce.
Currencies: The US Dollar Index moved higher by 0.15%.
Interest Rates: The US 10-year Treasury yield fell to a two-month low of 1.407%.
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 Ian McMillan (@the_chart_life). It's a daily candlestick chart of the S&P 500 over the past six months. The S&P gapped higher this morning, but it reversed hard around noon and ended up closing 3% below today's high. Ian points out that the S&P is now below a confluence of support from the September highs, the 50-day moving, and the AVWAP from the October lows. There's really nothing bullish to say about this sort of price action. The S&P 500 is guilty until proven innocent as long as it's below this key area.
Quote of the Day
"I would like to see more volatility in the markets. Small shocks remind us that a bigger shock might occur and we protect ourselves to some extent."
- Myron Scholes
Top Links
6 Things to Know About December and Omicron - LPL Financial Research
The team at LPL Financial research shares some must-see charts and stats to keep in mind as we head into December.
Stock Market Dilemma: Transports and Small Caps May Have Topped - Kimble Charting Solutions
Chris Kimble shows that the Dow Transports and the Russell 2000 just formed bearish reversal candles on their monthly charts.
No Man's Land - All Star Charts
Steve Strazza takes a look at the mess in the Financial sector.
Semis Outperforming Software - Bespoke
Bespoke explains that Semiconductor stocks are notably outperforming Software stocks.
These 3 Sectors Tend to Soar into Year-End - SentimenTrader
Jason Goepfert points out that Real Estate, Financials, and Health Care have bullish seasonality late in the year.
Top Tweets
You’re all caught up now. Thanks for reading!