Daily Chart Report ? Monday, November 28th, 2022
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Today’s Summary
Monday, November 28th, 2022
Indices: Nasdaq 100 -1.43% | Dow -1.45% | S&P 500 -1.54% | Russell 2000 -2.05%
Sectors: All 11 sectors closed lower. Consumer Staples led, but still fell -0.38%. Real Estate lagged, dropping -2.81%.
Commodities: Crude Oil futures rose +1.26% to $77.24 per barrel. Gold futures fell -0.78% to $1,740 per ounce.
Currencies: The US Dollar Index rose +0.57%.
Crypto: Bitcoin fell -1.18% to $16,230. Ethereum fell -1.87% to $1,171.
Interest Rates: The US 10-year Treasury yield inched lower to 3.683%.
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 Stacey A. Lee (@BBaxter2020). The Dow Jones Industrial Average (top) has been the only major index to break above its August highs. However, that breakout is failing, considering the Dow is back below its August highs as of today’s close. As we know, failed breakouts often lead to sharp moves lower. Stacey points out another red flag, which is the fact that Transports (bottom) never confirmed the breakout above the August highs. According to the tenants of Dow Theory, a new uptrend has not been established until Transports make a new swing high along with Industrials.
Quote of the Day
“There are usually more rallies in a bear market than there are relapses in a bull market.”
- Charles Dow
Top Links
December #2 Small Cap #3 Large Cap Tepid Start Solid Finish - Almanac Trader
With just two more trading days in November, Jeff Hirsch examines how stocks have historically performed in December.
Energy Stocks Continue to Outperform the Market - CNBC
In this clip, Ari Wald of Oppenheimer shares his thoughts on the Energy sector.
Big View Sector Analytics: Consumer Discretionary vs. Consumer Staples - See it Market
Mish Schneider points out that Consumer Discretionary stocks have continued to underperform Consumer Staples stocks.
Value Stocks Continue to Shine - Momentum Monday
In this video, Howard Lindzon and Ivanhoff highlight some of the most significant trends across the stock market.
Top Tweets
You’re all caught up now. Thanks for reading!