Daily Chart Report 📈 Friday, December 29, 2023
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Today’s 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
Today’s 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 bases… “The bigger the base, the higher in space!
Quote of the Day
"The beginning is the most important part of the work."
– Plato
Top Links
2024 Should See a Strong Q1 and Q4, Says Piper Sandler’s 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.
