Daily Chart Report ? Friday, December 17th, 2021
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Today’s Summary
Friday, December 17th, 2021
Indices: Dow -1.48% | S&P 500 -1.03% | Nasdaq -0.07% | Russell 2000 +1.00%
Sectors: All 11 sectors closed lower. Real Estate led, but still slipped 0.34%. Financials lagged, falling 2.20%.
Commodities: Crude Oil futures fell 2.79% to $70.14 per barrel. Gold futures were flat and continue to trade around $1,799 per ounce.
Currencies: The US Dollar Index rose 0.70%.
Interest Rates: The US 10-year Treasury yield inched lower 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 Jay Ligon (@TheeDisruptor). It’s a chart of the Micro-Cap ETF, $IWC, and the Russell 2000 ETF, $IWM, over the past five months. Jay points out that Micro-Caps and Small-Caps have both formed bullish momentum divergences. For the uninitiated, a bullish momentum divergence is when price makes a new low, while RSI makes a higher low. In both cases, RSI never reached oversold (below 30) when price made a new low, which is even more encouraging. Small-Caps and Micro-Caps have undergone sharp corrections recently, with max drawdowns of 15% and 12%, respectively. It’s been a rough month for the little guys, but seeing momentum diverge like this is a sign that the bears are running out of steam.
Quote of the Day
“Everyone you will ever meet knows something you don’t.”
– Bill Nye
Top Links
5 Charts You Haven’t Seen – LPL Financial Research
In this quick video, Ryan Detrick and Scott Brown highlight 5 noteworthy charts to keep an eye on.
BIG Charts of the Week – Bespoke
Bespoke shares a few charts that stood out this past week.
Industrials and Office REITs are Shining in the Real Estate Sector – StockCharts.com
Julius de Kempenaer takes a look at the pockets of strength within the Real Estate sector.
Stock Movement Good Indicator of Future Interest Rate Hike – Fox Business
John Gagliardi shares his thoughts on the strength in defensive sectors and the Fed.
Investors Shift to “Risk-Off” Stance – Potomac Fund Management
Dan Russo examines some key risk ratios.
Top Tweets
You’re all caught up now. Thanks for reading!