Daily Chart Report ? Thursday, December 16th, 2021
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Today’s Summary
Thursday, December 16th, 2021
Indices: Dow -0.08% | S&P 500 -0.87% | Nasdaq -2.47% | Russell 2000 -1.95%
Sectors: 8 of the 11 sectors closed higher. Financials led, gaining 1.26%. Tech lagged, dropping 2.83%.
Commodities: Crude Oil futures rose 1.24% to $71.75 per barrel. Gold futures gained 2.03% to $1,800 per ounce.
Currencies: The US Dollar Index fell 0.35%.
Interest Rates: The US 10-year Treasury yield dropped to 1.41%.
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 Grayson Roze (@GraysonRoze). The chart shows the four defensive sectors of the S&P 500 over the past year – Real Estate, Consumer Staples, Health Care, and Utilities. These four have been the strongest sectors over the past month. As Grayson points out, all four are at all-time highs. To be fair, this chart was shared yesterday but all four continued higher today and printed fresh record highs. There’s a clear shift from offense to defense that has been going on the past few weeks. Defensive sectors and boring Low-Volatility stocks have become the new momentum plays. This isn’t exactly the healthiest leadership, as it represents a general lack of risk appetite among market participants. Regardless of what this says about the broader market, these sectors are clearly working right now and look poised to continue higher in the near term.
Quote of the Day
“There’s always free cheese in a mousetrap.”
– Anonymous
Top Links
Outperformance from Low Volatility – Bespoke
Bespoke examines the recent strength in Low Volatility stocks.
The S&P 500 Doesn’t Care That Breadth is Still Weak – Potomac Fund Management
Dan Russo shares his weekly breadth analysis.
Looking at Markets After FOMC – TD Ameritrade Network
In this clip, Andrew Thrasher offers his thoughts on stocks after yesterday’s Fed meeting.
Bitcoin is NOT an Inflation Hedge…Yet – All Star Charts
Louis Sykes explains that Bitcoin is not an effective hedge against inflation despite the narrative that it is.
The Market’s Okay – The Irrelevant Investor
Michael Batnick offers his perspective on market breadth.
Top Tweets
You’re all caught up now. Thanks for reading!