Chart of the Day - Wednesday, December 29th, 2021

Today’s Chart of the Day was shared by Shane Murphy (@murphycharts). It's a daily candlestick of the Dow Jones Industrial Average over the past year. The Dow rose for the sixth consecutive day today, but more importantly, it closed an all-time high for the first time in seven weeks. The S&P 500 also managed to close at a record high today, and the Nasdaq 100 is less than a percent away from joining the party. The Russell 2000 is still a trendless mess as it battles with a flat 200-day moving average. Nonetheless, the Dow joining the S&P 500 at all-time highs is a bullish development. After more than a month of no progress and a 6.6% drawdown, the Dow looks ready to move higher.