Daily Chart Report ๐ Tuesday, December 5, 2023
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Todayโs Summary
Tuesday, December 5, 2023
Indices: Nasdaq 100 +0.24% | S&P 500 -0.06% | Dow -0.22% | Russell 200 -1.38%
Sectors: 2 of the 11 sectors closed higher. Technology led, gaining +0.60%. Energy lagged, falling -1.75%.
Commodities: Crude Oil futures fell -0.99% to a four-month low of $72.32 per barrel. Gold futures fell -0.29% to $2,036 per oz.
Currencies: The US Dollar Index rose +0.31% to $103.96.
Crypto: Bitcoin jumped +4.98% to a 20-month high of $44,075. Ethereum gained +2.23% to $2,293.
Volatility: The Volatility Index fell -1.76% to 12.86.
Interest Rates: The US 10-year Treasury yield fell to a three-month low of 4.176%.
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 Arun Chopra (@FusionptCapital). Bitcoin rose +5% for the second day in a row, hitting a 20-month high of $44k. It's up for the 8th consecutive week for the first time since 2017, and it hasn't gone nine in a row since 2013. Arun jokes that Bitcoin has returned to levels where we saw celebrities jump aboard the trend in 2021. Jokes aside, sentiment isn't nearly as frothy this time around despite trading at the same price. Sure, crypto bulls have gotten a little louder lately, but the public isn't nearly as obsessed as it was in 2021.
Quote of the Day
โThe history of markets is one of overreaction in both directions.โ
โPeter Bernstein
Top Links
December Market Outlook - Grindstone Intelligence
Austin Harrison highlights some key areas to watch in December.
Rotation is the Lifeblood - All Star Charts
JC Parets looks at what sector rotation could look like in the coming weeks.
Banks/Financials - Bart's Charts
James Barteloni highlights three potential sell patterns in the financial sector.
Sideways - Bespoke
Bespoke examines the narrow 3-year range in the Equal_Weight S&P 500.
Bitcoin Could Jump 10% as it Makes Bullish Moves Heading Into Year-End, Technical Analyst Says
Katie Stockton shares her near-term outlook on Bitcoin.