Daily Chart Report π Wednesday, November 29, 2023
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Todayβs Summary
Wednesday, November 29, 2023
Indices: Russell 2000 +0.61% | Dow +0.04% | S&P 500 -0.10% | Nasdaq 100 -0.14%
Sectors: 6 of the 11 sectors closed higher. Real Estate led, gaining +0.76%. Consumer Staples lagged, falling -0.81%.
Commodities: Crude Oil futures gained +1.90% to $77.86 per barrel. Gold futures rose +1.33% to $2,067 per oz -- the second-highest daily close of all-time.
Currencies: The US Dollar Index inched higher by +0.10% to $102.84.
Crypto: Bitcoin was flat at $37,863. Ethereum fell -0.98% to $2,029.
Volatility: The Volatility Index rose +2.28% to 12.99.
Interest Rates: The US 10-year Treasury yield fell to a two-month low of 4.259%.
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 Alan Cohen (@al_xdpg). The chart shows new highs minus new lows on the NYSE, smoothed by a 20-day moving average (blue). New highs have exceeded new lows in recent weeks, pushing the 20-day moving average into positive territory for the first time in three months. Alan points out that the S&P 500 tends to trend higher when the 20-day moving average of net new highs is above zero and vice versa. The market has been awfully quiet this past week, but we're continuing to see internal improvement beneath the surface.
Quote of the Day
βOne of the things you learn in this business is humility because you see your mistakes the next day.β
β Walter Schloss
Top Links
ETFs & Markets with Todd Sohn: Don't Fear A Low VIX - Strategas Asset Management
Todd Sohn makes sense of the recent action in the VIX.
First Half December Weak Ahead of Mid-Month Pop - Almanac Trader
Jeff Hirsch examines how stocks have historically performed throughout December.
Stock Market Analysis November 29, 2023 - Alphatrends
Brian Shannon breaks down recent price action and highlights some key levels to watch in the near term.
November Mid-Month Conference Call: 5 Key Takeaways - All Star Charts
The team at All Star Charts highlights five technical developments to watch in the coming weeks.
Silver Bullish Head & Shoulders Near Breakout Level! - Kimble Charting Solutions
Chris Kimble points out that Silver is attempting to resolve higher after forming potential Head & Shoulders bottom.