Daily Chart Report 📈 Monday, December 11, 2023

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Today’s Summary
Monday, December 11, 2023

Indices: Nasdaq +0.85% | Dow +0.43% | S&P 500 +0.39% | Russell 2000 +0.15%

Sectors: 10 of the 11 sectors closed higher. Consumer Staples led, gaining +0.96%. Communications was the only sector that closed lower, falling -0.77%.

Commodities: Crude Oil futures inched higher by +0.13% to $71.32 per barrel. Gold futures dropped -1.03% to $1,994 per oz.

Currencies: The US Dollar Index inched higher by +0.10% to $104.09.

Crypto: Bitcoin dropped -5.81% to $41,242. Ethereum dropped -5.44% to $2,224.

Volatility: The Volatility Index rose +2.35% to 12.64.

Interest Rates: The US 10-year Treasury yield inched higher to 4.235%.

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 Ian McMillan (@the_chart_life). The Semiconductor ETF ($SMH) broke out to record highs today after its third largest component, Broadcom ($AVGO), surged +9%. $SMH initially broke out in July, but that breakout quickly failed, and it went on to correct -11% over the next three months. After two years of no progress, $SMH looks ready to resume its long-term uptrend and make a new leg higher. Ian points out that this is another win for the bulls as Semiconductor stocks often lead the broader market higher or lower.

re(Balancing Act - Trading Adventures
Andy Moss highlights some key charts for the week ahead.

AI Henry Blodget - The Roation Report
Aaron Jackson shares his thoughts on the current market environment.

Is Overbought Really Bearish? - Stock Charts
Arthur Hill points out that 'overbought' isn't necessarily bearish.

Solana Summer is Here - All Star Charts
Louis Sykes looks at what could be next for the sixth-largest cryptocurrency, Solana.

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

Top Tweets

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