Daily Chart Report π Friday, December 29, 2023
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Todayβs Summary
Friday, December 29, 2023
Indices: Dow -0.05% | S&P 500 -0.28% | Nasdaq -0.43% | Russell 2000 -1.52%
Sectors: 2 of the 11 sectors closed higher. Consumer Staples led, rising +0.21%. Real Estate lagged, falling -1.09%.
Commodities: Crude Oil futures inched lower by -0.17% to $71.65 per barrel. Gold futures fell -0.56% to $2,072 per oz.
Currencies: The US Dollar Index rose +0.17% to $101.38.
Crypto: Bitcoin fell -1.20% to $42,072. Ethereum dropped -1.96% to $2,300.
Volatility: The Volatility Index fell -0.32% to 12.44.
Interest Rates: The US 10-year Treasury yield rose to 3.866%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
Todayβs Chart of the Day was shared by TrendSpider (@TrendSpider). Another year is in the books! The S&P 500 gained more than 24% in 2023, recovering nearly all of its losses from 2022. It almost reached all-time highs today but closed just 0.56% below. This marks the first year in over a decade without all-time highs on a daily closing basis. However, TrendSpider points out that the index did achieve all-time highs on a monthly closing basis today. Monthly record highs typically precede weekly and daily record highs. As we focus on 2024, the S&P 500 looks poised to resume its long-term uptrend after two years without progress. It has built a solid base to launch higher from, and you know what they say about big basesβ¦ βThe bigger the base, the higher in space!
Quote of the Day
"The beginning is the most important part of the work."
β Plato
Top Links
2024 Should See a Strong Q1 and Q4, Says Piper Sandlerβs Craig Johnson - CNBC
Craig Johnson shares his technical outlook for 2024.
January Seasonality: Have Returns Pulled Forward? - LPL Financial Research
George Smith looks at January seasonality for the S&P 500.
DJIA and NASDAQ Best on First Trading Day of New Year - Almanac Trader
Jeff Hirsch looks at how stocks have historically performed on the first trading day of the year.
2023 Year End Stock Market Analysis - Alphatrends
Brian Shannon reviews this year's performance and some key levels to pay attention to in the near term.
A Recession Isn't Expected Next Year, Says Carson's Ryan Detrick - CNBC
Ryan Detrick offers his thoughts on the year ahead.