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Daily Chart Report πŸ“ˆ Monday, December 4, 2023

December 4, 2023

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Today’s Summary
Monday, December 4, 2023


Indices:
Russell 2000 +1.04% | Dow -0.11% | S&P 500 -0.54% | Nasdaq 100  -0.99%

Sectors: 4 of the 11 sectors closed higher. Real Estate led, gaining +0.55%. Tech lagged, falling -1.22%.

Commodities: Crude Oil futures fell -1.39% to $73.04 per barrel. Gold futures dropped -2.27% to $2,042 per oz.

Currencies: The US Dollar Index rose +0.43% to $103.64.

Crypto: Bitcoin jumped +4.99% to a 20-month high of $41,985. Ethereum gained +2.27% to $2,244.

Volatility: The Volatility Index rose +3.72% to 13.09.

Interest Rates:
The US 10-year Treasury yield rose to 4.257%.

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 Larry Thompson (@HostileCharts). The Regional Bank ETF ($KRE) rose +1.39% to a three-month high today while the broader market was down. Regional Banks have been dragging on the Russell 2000 all year, but Larry points out that $KRE is attempting to break out of an 8-month base. It's approaching resistance from the August highs, around $49, and RSI is overbought for the first time in over a year. Clearing $49 would open the door for a rally to the 2022 lows, around $56. $KRE could go from $49 to $56 pretty quickly due to the lack of price memory between these two levels.

Quote of the Day

β€œThe market may be crazy, but that doesn't make you a psychiatrist.”

– Meir Statman

Top Links

Hamer It Out - Trading Adventures
Andy Moss looks at how the major averages kicked off the week.

Small Caps Heat Up - Almanac Trader
Jeff Hirsch points out that Small Caps are doing what they usually do around this time of year.

New Highs in 2024* - Bespoke
Bespoke points out that the S&P 500 is whiskers from an all-time high on a total return basis.

Better Not Pout - The Weekly Trend Podcast
In this podcast, David Zarling and Ian McMillan discuss some of the key technical developments across the markets.

Top Tweets

 

You’re all caught up now. Thanks for reading!