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Today’s Summary
Thursday, November 4th, 2021
Indices: Dow -0.09% | S&P 500 +0.42% | Nasdaq +0.81% | Russell 2000 -0.08%
Sectors: 6 of the 11 sectors closed higher. Technology led, gaining 1.56%. Financials lagged, falling 1.31%.
Commodities: Crude Oil futures dropped 2.54% to $78.81 per barrel. Gold futures rebounded 1.68% to $1,794 per ounce.
Currencies: The US Dollar Index rose 0.51%.
Interest Rates: The US 10-year Treasury yield dropped to 1.531%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
The average (median*) stock is making new all-time highs again… first time in about 5 months $VLG pic.twitter.com/r0uePqpogx
— Steven Strazza (@sstrazza) November 4, 2021
Today’s Chart of the Day was shared by Steve Strazza (@sstrazza). It’s a chart of the Value Line Geometric Index over the past year. This is an equally weighted index that contains about 1,700 stocks. It uses a geometric average, so the daily change reflects the median stock price change. In other words, It provides a broader and more accurate representation of the stock market than popular benchmarks like the Dow or S&P 500. Steve points out that it’s breaking out to all-time highs for the first time in five months. This is further evidence that the market is broadening out and has more room to run.
Quote of the Day
“Gamblers obsess with big potential upside windfall profits. Intelligent speculators obsess with managing downside risk.”
– Peter Brandt
Top Links
Best Consecutive Three-Month Span Begins With November – Almanac Trader
Seasonality expert, Jeff Hirsch points out that November kicks off what has historically been the best three-month stretch of the year for stocks.
Sentiment Soaring Across Surveys – Bespoke
Bespoke breaks down the results of the latest sentiment surveys.
Small Stocks Just Made a Big Move – SentimenTrader
Jason Goepfert examines the recent breakout in the Russell 2000.
A “Breadth” of Fresh Air – Potomac Fund Management
Dan Russo shares his weekly breadth analysis.
Breakouts and Breadth Expansion – All Star Charts
The team at All Star Charts takes a look at the recent improvement in breadth.
Top Tweets
First time the S&P has risen 15 out of 17 days since September 1995.https://t.co/280EzHvWHM
— Callie Cox (@callieabost) November 4, 2021
S&P 500 closes at an all-time high for the 63rd time this year. Needs 15 more to break the record set in 1995 (77). $SPX pic.twitter.com/u7zeJMCa1M
— Charlie Bilello (@charliebilello) November 4, 2021
The S&P 500 is on pace for its third straight year of 15%+ price gains. Would be just the second time that's happened since 1928. https://t.co/H4p1RcpfIn pic.twitter.com/tChJvdVUMq
— Bespoke (@bespokeinvest) November 4, 2021
Nasdaq 100 win percentage end of year since 1989
?~72% November
?~82% December
?The more an investor/trader leans into the
probabilities, the better they are likely to perform!#investing pic.twitter.com/aeXfZAOWSo— Seth Golden (@SethCL) November 4, 2021
Primary trend confirmation… $DJI $DJT pic.twitter.com/BiaObjBA6j
— Grant Hawkridge (@granthawkridge) November 4, 2021
$IWM breadth confirming the break out after a series of positive divergences $SPY pic.twitter.com/IPkpYqifOQ
— Rolando Santos (@TKPTrader) November 4, 2021
We get the anxiety around higher energy and input costs + Fed taper, but #smallcaps breaking out from a 10-month range with an expanding new high list and the improvement in #Discretionary suggests the market is discounting better (not worse) economic growth. @StrategasRP pic.twitter.com/DQiwVF35Km
— Chris Verrone (@verrone_chris) November 4, 2021
the average stock via the Value Line Geometric average is breaking out this week and adds to the equity market keeps moving higher thesis… pic.twitter.com/oCOQgpFoki
— David Cox, CMT, CFA (@DavidCoxWG) November 4, 2021
It's hard to wrap a bearish narrative around an expansion in new highs – but it doesn't mean they won't try. pic.twitter.com/zmke4TunJo
— Willie Delwiche (@WillieDelwiche) November 4, 2021
$RBOB gasoline futures has dropped nearly 10% from its multi-year high last month $UGA pic.twitter.com/jtmJOgowmm
— Mike Zaccardi, CFA, CMT (@MikeZaccardi) November 4, 2021
Natural Gas continues to coil above its 2018 highs. A decisive close above 6.281 could kickstart the next leg higher. $NG_F pic.twitter.com/zu4Uw9gQHZ
— Ian Culley (@IanCulley) November 4, 2021
Don't see anyone tweeting about aluminum… key level here pic.twitter.com/ly5tDBVWpr
— Mike Singleton, CFA (@InvictusMacro) November 4, 2021
$NVDA up 46% over the last 16 sessions, best such run in at least a decade. Even better than off the March '20 bottom! pic.twitter.com/w1a2xPvKip
— Jonathan Krinsky,CMT (@jkrinskypga) November 4, 2021
Did you see Ford trading at its highest level since 2001!?$F pic.twitter.com/uCtD4Zw5Jt
— Alfonso Depablos (@AlfCharts) November 4, 2021
Looking at Peloton’s stock price after reporting earnings pic.twitter.com/BD1eoNqtpn
— litquidity (@litcapital) November 4, 2021
You’re all caught up now. Thanks for reading!