Daily Chart Report ๐ Wednesday, December 20, 2023
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Todayโs Summary
Wednesday, December 20, 2023
Indices: Dow -1.27% | S&P 500 -1.47% | Nasdaq 100 -1.53% | Russell 2000 -1.89%
Sectors: All 11 sectors closed lower. Communications led, but still fell -0.77%. Utilities lagged, dropping -2.03%.
Commodities: Crude Oil futures rose +0.38% to $74.22 per barrel. Gold futures fell -0.21% to $2,048 per oz.
Currencies: The US Dollar Index rose +0.26% to $102.41.
Crypto: Bitcoin gained +3.33% to $43,665. Ethereum rose +1.14% to $2,202.
Volatility: The Volatility Index gained +9.11% to 13.66.
Interest Rates: The US 10-year Treasury yield dropped to a four-month low of 3.851%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
Todayโs Chart of the Day was shared by Ryan Detrick (@RyanDetrick). The official Santa Claus rally period begins on Friday. This seasonal phenomenon was first published in 1972 by Yale Hirsch in The Stock Traders Almanac. The Santa Claus Rally refers to Decemberโs last five trading days and the first two of the new year. It has historically been one of the most bullish seven-day stretches of the year regarding both win rate and average return. Since 1950, the S&P 500 rose nearly 80% of the time for an average gain of +1.32%. The Santa Claus Rally can also set the tone for the year ahead. When the S&P 500 has failed to rally during this seasonally bullish period, Ryan points out that the following year has been sub-par at best.
Quote of the Day
"If Santa Claus should fail to call,
bears may come to Broad and Wall."
โ Yale Hirsch
Top Links
Removed NDX Stocks Likely to Outperform Those Added - Schaeffer's Investment Research
Rocky White examines how stocks have historically performed after being added or removed from the Nasdaq 100.
Stock Market Video Analysis December 20, 2023 - AlphaTrends
Brian Shannon dissects today's intraday reversal.
Perfectly Normal Market Behavior - All Star Charts
JC Parets shares his thoughts on the current market environment.
Consumers Are Sour, But Investors Like What They See - Hi Mount Research
Willie Delwiche looks at investor sentiment.
Four More Reasons โ24 Should Be a Good One for the Bulls - Carson Group
Ryan Detrick lays out four reasons why the rally could continue next year.