Daily Chart Report 📈 Monday, November 18, 2024
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Today’s Summary
Monday, November 18, 2024
Indices: Nasdaq +0.71% | S&P 500 +0.39% | Russell 2000 +0.11% | Dow -0.13%
Sectors: 10 of the 11 sectors closed higher. Energy led, gaining +1.33%. Industrials lagged, falling -0.14%.
Commodities: Crude Oil futures rose +3.21% to $69.17 per barrel. Gold gained +1.73% to $2,615 per oz.
Currencies: The US Dollar Index dropped -0.41% to 106.23.
Crypto: Bitcoin gained +0.72% to $90,512. Ethereum rose +4.30% to $3,209.
Volatility: The Volatility Index dropped -3.47% to 15.57.
Interest Rates: The US 10-year Treasury yield fell to 4.416%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
🏆 Today's Chart of the Day was shared by Andrew Thrasher (@AndrewThrasher).
- Semiconductors will be in focus this week as Nvidia ($NVDA) reports earnings on Wednesday (post-market). Despite their leadership in the first half of 2024, Semis have notably lagged in the second half.
- While $NVDA has held up relatively well, the broader Semiconductor group has struggled since July. Andrew points out that the three major Semiconductor ETFs are much further from their highs than the S&P 500.
- After today's close, $SPX is -1.7% below its peak, while $SMH is -14.1%, $SOX is -17.2% and $SOXX is -19.4%. This is a red flag for the broader market, but $NVDA could reignite the group later this week.
The Takeaway: Semiconductors have notably lagged since July, sending a bearish message to the broader market. However, $NVDA could revitalize the group this week as the company reports earnings on Wednesday.
Top Links
Election Rally Hangover - Investopedia
Jay Woods highlights a few noteworthy things to watch this week.
Digital Payments are Paying Off - Alfonso's Daily Note
Alfonso Depablos looks at the Digital Payments ETF ($IPAY) and its notable components.
Nvidia Earnings And The Cabinet Island - The Rotation Report
Aaron Jackson weighs in on the major trends and themes in the market.
The New Growth Playbook - StockMarketTV
Steve Strazza examines the recent breakout in speculative growth stocks.
Maybe, Maybe Not - The Weekly Trend Podcast
Ian McMillan shares his perspective on the current trends and themes in the market.
Quote of the Day
“A bull market tends to bail you out of all your mistakes. Conversely, bear markets make you pay for your mistakes.”
- Richard Russell
Top Tweets