Daily Chart Report π Friday, December 1, 2023
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Todayβs Summary
Friday, December 1, 2023
Indices: Russell 2000 +2.96% | Dow +0.82% | S&P 500 +0.59% | Nasdaq 100 +0.31%
Sectors: All 11 sectors closed higher. Real Estate led, gaining +2.10%. Communications lagged but still rose +0.20%.
Commodities: Crude Oil futures dropped -2.49% to $74.07 per barrel. Gold futures closed at record highs for the first time in three years, rising +1.58% to $2,090 per oz.
Currencies: The US Dollar Index fell -0.31% to $103.19.
Crypto: Bitcoin rose +2.62% to a 19-month high of $38,707. Ethereum gained +1.70% to $2,089.
Volatility: The Volatility Index fell -2.25% to 12.62.
Interest Rates: The US 10-year Treasury yield dropped to a three-month low of 4.197%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
Today's Chart of the Day was shared by Optuma (@Optuma). The S&P 500 kicked off December on a positive note today, gaining +0.59% to a 20-month high. If it rises again next week, it will be the first six-week winning streak in four years. As we enter the final month of the year, Optuma points out that December has historically been positive 70% of the time for an average gain of +1.50%. However, most of the gains occur in the second half of the month. Many confuse this with the Santa Claus Rally, but that term strictly refers to the last five trading days of the year and the first two of the new year. After clearing the March 2022 peak today, the S&P 500 is sitting less than 5% from record highs, and there's virtually no resistance standing in its way.
Quote of the Day
βThere's no such thing as simple.
Simple is hard.β
β Martin Scorsese
Top Links
Stock Market Video Analysis for Week Ending December 1, 2023 - Alphatrends
Brian Shannon breaks down this week's price action and highlights some key levels to watch next week.
Historic November As The Bull Market Continues⦠- All Star Charts
JC Parets shares his thoughts on the November rebound.
November Winners - Bespoke
Bespoke highlights the strongest stocks in November.
Is a Bigger Pullback Needed? - CappThesis
Frank Cappelleri looks at what could be next for the S&P 500 in December.
Market Leader Nvidia (NVDA) Struggling At Key Fibonacci Resistance! - Kimble Charting Solutions
Chris Kimble points out that Nvidia is stalling at a key level.
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