Daily Chart Report ? Thursday, December 2nd, 2021
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Today’s Summary
Thursday, December 2nd, 2021
Indices: Dow +1.82% | S&P 500 +1.42% | Nasdaq +0.83% | Russell 2000 +2.74%
Sectors: All 11 sectors closed higher. Financials led, gaining 2.98%. Health Care lagged but still rose 0.49%.
Commodities: Crude Oil futures rose 1.42% to $66.50 per barrel. Gold futures dropped 1.21% to $1,763 per ounce.
Currencies: The US Dollar Index gained 0.10%.
Interest Rates: The US 10-year Treasury yield rose to 1.448%.
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 David Keller (@DKellerCMT). It's a daily bar chart of the Semiconductor ETF, $SMH, over the past two years. Stocks rebounded today, with some of the major indices finding support exactly where they needed to. If a tradeable low is in, then it would make sense to look for buying opportunities in areas of the market that held up relatively well throughout the recent pullback. David points out that Apple ($AAPL), Semiconductors ($SMH), and Homebuilders ($ITB) all showed relative strength over the past week as the rest of the market was selling-off. It doesn't hurt that Homebuilders have bullish seasonality over the next few months. Keep an eye on these three names if the market continues to rebound.
Quote of the Day
"Risk is like fire: If controlled it will help you. If uncontrolled it will rise up and destroy you."
- Theodore Roosevelt
Top Links
December Almanac: Small-Cap Effect and Santa Claus Rally - Almanac Trader
Jeff Hirsch shares some insights on December seasonality.
This Small-Cap Correction is One of the Fastest in History - SentimenTrader
Jason Goepfert points out that it took the Russell 2000 just 15 days to fall 10%, marking the 4th fastest correction ever.
Breadth is Bad, but There May Be a Silver Lining - Potomac Fund Management
Dan Russo examines market breadth.
Sentiment Collapse - Bespoke
Bespoke analyzes the results of the latest sentiment surveys.
The Most Bears in Over a Year - All Star Charts
JC Parets takes a look at the recent jump in pessimism.
Top Tweets
You’re all caught up now. Thanks for reading!