Daily Chart Report π Thursday, November 30, 2023
Powered By:
Todayβs Summary
Thursday, November 30, 2023
Indices: Dow +1.47% | S&P 500 +0.38% | Russell 2000 +0.29% | Nasdaq 100 -0.25%
Sectors: 9 of the 11 sectors closed higher. Health Care led, gaining +1.26%. Communications lagged, falling -0.58%.
Commodities: Crude Oil futures dropped -2.44% to $75.96 per barrel. Gold futures fell -0.48% to $2,057 per oz.
Currencies: The US Dollar Index rose +0.66% to $103.52.
Crypto: Bitcoin inched lower by -0.38% to $37,719. Ethereum rose +1.20% to $2,054.
Volatility: The Volatility Index fell -0.62% to 12.91.
Interest Rates: The US 10-year Treasury yield rose to 4.328%.
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 Charlie Bilello (@charliebilello). We hope you bought in October and got yourself sober because it was a November to remember. The S&P 500 violently snapped a three-month losing streak in November, rising +8.9%. This marks the best month since July 2022 and the 18th-best month on record. If you think the S&P 500 has come "too far, too fast," think again because momentum is a funny thing. According to the data table, the strongest months have historically been followed by above-average returns across all time frames. The next month isn't very impressive, but the alpha becomes more pronounced as you look further. Too far, too fast certainly has a nice ring to it, but history tells us that unusually strong months often produce unusually strong returns.
Quote of the Day
βOpportunity arises when the gap between reality and perception becomes significant.β
βFrancois Rochon
Top Links
Let's Talk About Santa and December - Carson Group
Ryan Detrick lays out everything you need to know about December seasonality and the Santa Claus Rally.
Bear's Unprecedented Drop - Bespoke
Bespoke breaks down the latest results of the AAII Sentiment Survey.
Rotation, Rotation, Rotation - Trading Adventures
Andy Moss looks at some of the major technical developments across the markets.
Charts YOU Requested - Stock Market TV
Check out today's episode of Chart Request Live, where we break down your favorite tickers and answer viewer's questions.
Top Tweets