Daily Chart Report ? Friday, December 2nd, 2022
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Today’s Summary
Friday, December 2nd, 2022
Indices: Russell 2000 +0.59% | Dow +0.10% | S&P 500 -0.12% | Nasdaq 100 -0.40%
Sectors: 5 of the 11 sectors closed higher. Materials led, gaining +1.10%. Energy lagged, falling -0.59%.
Commodities: Crude Oil futures dropped -1.53% to $79.98 per barrel. Gold futures fell -0.31% to $1,810 per ounce.
Currencies: The US Dollar Index fell -0.22%.
Crypto: Bitcoin rose +0.51% to $17,062. Ethereum gained +1.17% to $1,291.
Interest Rates: The US 10-year Treasury yield fell to 3.488%.
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 Roque (@daChartLife). It’s a weekly chart of Silver over the past 15 years, along with its performance relative to the Bloomberg Commodity Index (lower panel). Silver rose 14% in November, marking its best month in nearly two years. John points out that it recently reclaimed support around $20 and its 40-week moving average. It’s breaking out of a two-year downtrend relative to Commodities, while momentum is almost in positive territory. If Silver continues above $20, the next major upside objective will be the 2021 highs, around $30.
Quote of the Day
“Beware of trading quotes. Trading isn’t simple enough to be boiled down to a punchy quote.”
– Andreas Clenow
Trendlines > Headlines
https://youtu.be/QOoP25d7fkQ
The latest episode of Trendlines over Headlines is out!
In this week’s episode, JC Parets of All Star Charts returns to the show to help us make sense of the current market environment. We touch on Stocks, Crude Oil, Crypto, and the recent outperformance from International Stocks.
You can also listen to the podcast version here.
Top Links
Country ETFs Outperforming US Recently – Bespoke
Bespoke examines which countries have outperformed the US lately.
The Game Has Changed – The Compound & Friends
In this podcast, Jeff deGraaf of Rennaissance Macro Research sits down with Josh Brown and Michael Batnick to discuss, Stocks, Bonds, the Yield Curve, Trend Following, and more.
Treasury Bonds ETF (TLT) Trading Breakout Price Targets – See it Market
Guy Cerundolo shares his thoughts on the bounce in Treasury Bonds.
Give Your Portfolio a Jolt – All Star Charts
Ian Culley takes a look at Orange Juice and Coffee Futures.
Top Tweets
You’re all caught up now. Thanks for reading!