Daily Chart Report ? Tuesday, November 29th, 2022
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Today’s Summary
Tuesday, November 29th, 2022
Indices: Russell 2000 +0.31% | Dow +0.01% | S&P 500 -0.16% | Nasdaq 100 -0.73%
Sectors: 6 of the 11 sectors closed higher. Real Estate led, gaining +1.67%. Technology lagged, falling -0.98%.
Commodities: Crude Oil futures rose +1.24% to $78.20 per barrel. Gold futures gained +1.34% to $1,764 per ounce.
Currencies: The US Dollar Index rose +0.16%.
Crypto: Bitcoin gained +1.55% to $16,462. Ethereum rose +4.53% to $1,221.
Interest Rates: The US 10-year Treasury yield rose to 3.748%.
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 Michael Kahn (@mnkahn). It’s a chart of the Energy sector (black) and Crude Oil (red) over the past two years. Energy stocks and Crude Oil tend to move together for obvious reasons, but they’ve been diverging since the Summer. Over the past three months, Energy Stocks are up more than 10%, while Crude Oil is down more than 15%. As Michael asks, Which one is right?
Quote of the Day
“Don’t think about what the market’s going to do; you have absolutely no control over that. Think about what you’re going to do if it gets there.”
– William Eckhardt
Top Links
MAGA Out of Favor – Bespoke
Bespoke points out that the four largest stocks in the S&P 500 all remain down 20% or more.
Buy High, Sell Higher – All Star Charts
Steve Strazza takes a look at which areas of the market have held up best amid the recent leg higher.
The Energy “Supercycle” – The Weekly Grind
Sam McCallum examines the divergence between Energy stocks and Crude Oil.
How We See It Now – Who Charted? – Research by Potomac
In this quick video, Dan Russo and Drew Wells highlight six noteworthy charts in six minutes.
Semiconductors ETF (SMH) Facing Stiff Test of Resistance This Week! – Kimble Charting Solutions
Chris Kimble points out that Semiconductor stocks are testing three different resistance levels at the same time.
Top Tweets
You’re all caught up now. Thanks for reading!