Daily Chart Report ? Monday, November 29th, 2021

Today’s Summary
Monday, November 29th, 2021

Indices: Dow +0.68% | S&P 500 +1.32% | Nasdaq +1.88% | Russell 2000 -0.18%

Sectors: All 11 sectors closed higher. Tech led, gaining 2.50%. Industrials lagged but still inched higher by 0.17%.

Commodities: Crude Oil futures rebounded 2.64% to $69.95 per barrel. Gold futures were flat and continue to trade around $1,786 per ounce.

Currencies: The US Dollar Index gained 0.14%.

Interest Rates: The US 10-year Treasury yield rose to 1.500%.

Here are the best charts, articles, and ideas being shared on the web today!

Chart of the Day

S&P 500 returns following largest $VIX spikes...

Takeaway: the market tends to rise over time and tends to rise more following volatility spikes (note: on average, there are always exceptions and this latest spike could very well be one). pic.twitter.com/NsfshBynfW

— Charlie Bilello (@charliebilello) November 27, 2021

Today’s Chart of the Day was shared by Charlie Bilello (@charliebilello). While most of us were in a food coma during Friday’s half-session, the Volatility Index shot up 54%. Charlie points out that this was the fourth largest 1-day % gain for the VIX ever. The table on the right shows the S&P 500’s forward total returns following some of the largest VIX spikes in history. On average, the S&P 500 has been positive across the board whether we’re talking 1-week later or 1-year later. Will this time be different?

Quote of the Day

“Wall Street never discounts the same thing twice.”

– Old Adage