Daily Chart Report ? Wednesday, December 21st, 2022
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Today’s Summary
Wednesday, December 21st, 2022
Indices: Russell 2000 +1.65% | Dow +1.60% | S&P 500 +1.49% | Nasdaq 100 +1.48%
Sectors: All 11 Sectors closed higher. Energy led, gaining +1.90%. Materials lagged but still gained +0.87%.
Commodities: Crude Oil futures rose +2.70% to $78.29 per barrel. Gold futures were unchanged at $1,825 per ounce.
Currencies: The US Dollar Index rose +0.25% to $104.23.
Crypto: Bitcoin slipped -0.44% to $16,824. Ethereum inched lower by -0.24% to $1,214.
Interest Rates: The US 10-year Treasury yield fell to 3.664%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day comes from Ned Davis Research (@NDR_Research). The chart shows the S&P 500 (blue) and the performance of owning the largest stock within the index. Over the decades, the largest stock in the S&P 500 has changed from IBM to GE, to Wal-Mart, to Apple, etc. If you only owned the largest S&P 500 stock, you would be up 1,794% over the past 50 years. That’s far less than the 14,913% gain you would have by simply owning the index over the same period. This chart serves as a reminder that leadership changes over time and it’s important to stay diversified.
Quote of the Day
“Hope is the worst four-letter word for a trader.”– Scott Ramsey
Top Links
Twas Three Nights Before Christmas (Russell 2000 Version) – Quantifiable Edges
Rob Hanna points out that the next 8 trading days have historically been strong for the Russell 2000.
Small-Caps Lead During Seasonally Bullish Trading Ahead of Christmas – Almanac Trader
Jeff Hirsch looks at how the major averages have performed around Christmas.
Why Short-Term Investors Should Snatch NDX Rejects – Schaeffer’s Investment Research
Rocky White examines how stocks have historically performed after being kicked out of the Nasdaq.
Fill the Gap Episode Fifteen, with Special Guest Ian McMillan, CMT – The CMT Association
In this podcast, the CMT association interviews Ian McMillan on his career and investment process.
The U.S. Economy ‘Is Likely Not Going Into a Recession” Strategist Says – Yahoo Finance
Ryan Detrick offers his thoughts on stocks, the economy, and the Santa Claus Rally.
Top Tweets
You’re all caught up now. Thanks for reading!
