Daily Chart Report π Monday, November 20, 2023
Powered By:
Todayβs Summary
Monday, November 20, 2023
Indices: Nasdaq 100 +1.19% | S&P 500 +0.74% | Dow +0.58% | Russell 2000 +0.52%
Sectors: 9 of the 11 sectors closed higher. Technology led, gaining +1.45%. Utilities lagged, falling -0.31%.
Commodities: Crude Oil futures rose +2.35% to $77.83 per barrel. Gold futures fell -0.22% to $1,980 per oz.
Currencies: The US Dollar Index fell -0.36% to a two-month low of $103.45.
Crypto: Bitcoin was flat (+0.14%) at $37,480. Ethereum rose +0.54% to $2,023.
Volatility: The Volatility Index fell -2.82%to a two-month low of 13.42.
Interest Rates: The US 10-year Treasury yield fell to 4.424%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
Todayβs Chart of the Day was shared by Ryan Detrick (@RyanDetrick). November has historically been one of the best months for the S&P 500, but itβs been even better than usual this year. The S&P 500 is currently up +8.6% month-to-date, marking the third-best start to a November, and itβs closed higher in 14 of the past 16 sessions. As good as itβs been, Ryan points out that the strongest part of November has historically occurred later in the month. Itβs hard to imagine this rally continuing at its current pace, but seasonality has been playing out remarkably well.
Quote of the Day
βIf you think the food is poison, you can starve at a banquet.β
β Art Cashin
Trendlines > Headlines
A brand new episode of Trendlines over Headlines is out!
This week, Scott Redler joins us to make sense of the markets. Scott is the Co-Founder and Chief Strategist at T3 Trading Group. He gives us a glimpse into his trading process and shares his thoughts on the current market environment.
Top Links
Happy Anniversary β Bespoke
Bespoke breaks down the performance of the Nasdaq 100 on the two year anniversary of its peak.
When Will We See New Highs Again in the Stock Market? β A Wealth of Common Sense
Ben Carlson examines the drought in all-time highs.
Thanksgiving to Santa Claus Rally Trader β Time to Feast β Almanac Trader
Jeff Hirsch looks at the bullish seasonal period between Thanksgiving and January.
The New Highs List Keeps Growing β All Star Charts
JC Parets looks at the renewed leadership from the Technology sector.
Table is Set β The Weekly Trend
In this podcast, David Zarling and Ian McMillan discuss some of the major technical developments across the markets.
Top Tweets
Youβre all caught up now. Thanks for reading!