Daily Chart Report ? Thursday, December 1st, 2022
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Today’s Summary
Thursday, December 1st, 2022
Indices: Dow -0.56% | Russell 2000 -0.26% | S&P 500 -0.09% | Nasdaq 100 +0.10%
Sectors: 5 of the 11 sectors closed higher. Communications led, gaining +0.58%. Financials lagged, falling -0.58%.
Commodities: Crude Oil futures rose +1.07% to $81.41 per barrel. Gold futures jumped +3.14% to $1,815 per ounce.
Currencies: The US Dollar Index dropped -1.08%.
Crypto: Bitcoin fell -1.17% to $16,969. Ethereum moved lower by -1.42% to $1,277.
Interest Rates: The US 10-year Treasury yield dropped to 3.510%.
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 John Kicklighter (@JohnKicklighter). It’s a daily candlestick chart of the US Dollar Index year-to-date. John points out that the Dollar Index just broke below its 200-day moving average. It spent 379 trading days above its 200-day moving average, marking the longest streak on record. As we know, Dollar strength has been putting pressure on stocks and risk assets all year. This is the breakdown that the bulls have been waiting for. Stocks will likely continue to rebound if the Dollar continues to weaken.
Quote of the Day
“Today’s headlines and history’s judgment are rarely the same.”
– Condoleezza Rice
Top Links
Five Good Signs for The Bulls in 2023 – Carson Group
Ryan Detrick outlines the bull case for stocks in 2023.
Bears Hibernating – Bespoke
Bespoke breaks down the results of the latest AAII Sentiment Survey.
Will Rates Finally Fall? – All Star Charts
Ian Culley examines the outlook for interest rates domestically and abroad.
Are Investment Grade Bonds (LQD) About to Rally? – See it Market
Chris Kimble takes a look at the rebound in Investment Grade Bonds.
The Fed Chair Ignites a Rally – PFT Trading
Greg Rieben highlights some of the most noteworthy developments across the markets.
Top Tweets
You’re all caught up now. Thanks for reading!