Daily Chart Report ? Monday, December 6th, 2021

Today’s Summary
Monday, December 6th, 2021

Indices: Dow +1.87% | S&P 500 +1.17% | Nasdaq +0.93% | Russell 2000 +2.05%

Sectors: All 11 sectors closed higher. Consumer Staples led, gaining 1.76%. Health Care lagged, but still rose 0.57%.

Commodities: Crude Oil futures rebounded 4.87% to $69.49 per barrel. Gold futures slipped 0.25% to $1,780 per ounce.

Currencies: The US Dollar Index moved higher by 0.15%.

Interest Rates: The US 10-year Treasury yield rose to 1.436%.

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

Chart of the Day

Today’s Chart of the Day was shared by Adam Koos (@AdamKoos). It’s a 60-min candlestick chart of the S&P 500 over the past three months. The S&P 500 is attempting to carve out a short-term bottom. It has managed to find some support over the past few session at a confluence of support from the September highs and the 50-day moving average. Adam points out that RSI is beginning to diverge positively from price, which is a sign that a short-term trend reversal is brewing. To be fair, RSI can diverge from price for a while before materializing into anything meaningful, so it would be prudent to wait for the S&P to reclaim 4,600 to confirm this bullish divergence.

Quote of the Day

“A group of people who think differently is a market.
A group of people who think alike is a mob.”

– Naval Ravikant