Daily Chart Report ? Friday, December 3rd, 2021
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Today’s Summary
Friday, December 3rd, 2021
Indices: Dow -0.17% | S&P 500 -0.84% | Nasdaq -1.92% | Russell 2000 -2.13%
Sectors: 3 of the 11 sectors closed higher. Consumer Staples led, gaining 1.24%. Consumer Discretionary lagged, falling 1.94%.
Commodities: Crude Oil futures slipped 0.36% to $66.26 per barrel. Gold futures gained 1.20% to $1,784 per ounce.
Currencies: The US Dollar Index was flat.
Interest Rates: The US 10-year Treasury yield fell to 1.346%.
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 Michael Kahn (@mnkahn). It’s a daily bar chart of the Russell Micro-Cap index, year-to-date. Michael points out that Micro-Caps broke below support today, and closed at a 10-month low. Similar to Small-Caps, Micro-Caps have been stuck in a tight range for the majority of the year between 850~990. Small-Caps are holding on for dear life above support, but seeing Micro-Caps break down like this begs the question; will Small-Caps follow suit?
Quote of the Day
“I enjoy the hunt much more than
the ‘good life’ after the victory.”
– Carl Icahn
Top Links
5 Charts with LPL Research | Volatility is Back – LPL Financial Research
In this quick video, Ryan Detrick and Scott Brown break down five noteworthy charts.
December Typically Starts Out Weak – Almanac Trader
Jeff Hirsch points out that while December has a bullish track record, most of the gains tend to come in the back half of the month.
A Split Market as Oil Tumbles into a Bear Market – SentimenTrader
Jason Goepfert takes a look at the deterioration in breadth.
Renaissance Macro’s Jeff deGraaf is Concerned About Low Yields – CNBC
In this clip, Jeff deGraaf shares his thoughts on Homebuilding stocks and Treasury yields.
Why This Isn’t a Bear Market – All Star Charts
JC Parets explains that the strength in Homebuilding stocks is a bright spot in an otherwise dull market.
Top Tweets
$CPCE >60 for the first time since Aug. All instances since the election shown below pic.twitter.com/VFggX0T3yT
— Urban Carmel (@ukarlewitz) December 3, 2021
Equal-weighted version of the S&P 500 hasn’t gone back to visit this week’s lows today, most of the pressure from purge in expensive secular-growth spilling into the mega-cap Nasdaq names. pic.twitter.com/nJm7ie6ROY
— Michael Santoli (@michaelsantoli) December 3, 2021
You’re all caught up now. Thanks for reading!