Daily Chart Report ? Monday, December 13th, 2021
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Today’s Summary
Monday, December 13th, 2021
Indices: Dow -0.89% | S&P 500 -0.91% | Nasdaq -1.39% | Russell 2000 -1.42%
Sectors: 4 of the 11 sectors closed higher. Real Estate led, gaining 1.34%. Energy lagged, dropping 2.78%.
Commodities: Crude Oil futures slipped 0.53% to $71.29 per barrel. Gold futures gained 0.20% to $1,788 per ounce.
Currencies: The US Dollar Index rose 0.33%.
Interest Rates: The US 10-year Treasury yield dropped to 1.42%.
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 Matthew Timpane (@mtimpane). The chart shows the Utilities sector (black) and the Consumer Staples sector (blue) over the past two years. These two defensive sectors have been the strongest areas of the market over the past two weeks. Staples broke out to all-time highs last week, while Utilities are attempting to do the same. Real Estate and Health Care (the other two defensive sectors) have also been firming up recently. Investors often flock to defensive sectors during times of economic stress or uncertainty. The idea is that even in hard economic times people will continue to consume the goods and services that these companies offer. Seeing this clear shift from offense to defense sets a risk-off tone to the broader market as it represents a flight to safety.
Quote of the Day
“It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change.”
- Charles Darwin
Top Links
Narrowing Leadership - Andrew Thrasher
Andrew Thrasher examines the deterioration in market breadth.
“Feels a Lot Like the 2000 Bubble and May Not be Over Yet” - All Star Charts
JC Parets explains that Tech is alive and well despite the narrative stating otherwise.
What is a Healthy Market? - The Weekly Trend
In this podcast, David Zarling and Ian McMillan discuss some of the most important technical developments across the markets.
Berkshire's Apple (AAPL) Weighting Swells to Nearly 50% - Bespoke
Bespoke points out that Apple represents nearly half of Berkshire Hathaway.
TIME Magazine's Person of the Year Has Historically Been a Great Contrarian Indicator - Jim Bianco
Here's an interesting thread from Jim Bianco about Time Magazine's Person of the Year award being a contrarian indicator.
Top Tweets
You’re all caught up now. Thanks for reading!