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Today’s Summary
Friday, November 5th, 2021
Indices: Dow +0.56% | S&P 500 +0.37% | Nasdaq +0.20% | Russell 2000 +1.44%
Sectors: 10 of the 11 sectors closed higher. Energy led, gaining 1.30%. Health Care was the only sector that closed lower, falling 1.12%.
Commodities: Crude Oil futures rebounded 3.12% to $81.27 per barrel. Gold futures gained 1.30% to $1,817 per ounce.
Currencies: The US Dollar Index slipped 0.12%.
Interest Rates: The US 10-year Treasury yield dropped to 1.455%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
NASDAQ seeing the most new highs since March. pic.twitter.com/p6PhY2W4oi
— Willie Delwiche, CMT, CFA (@WillieDelwiche) November 5, 2021
Today’s Chart of the Day was shared by Willie Delwiche (@WillieDelwiche). It’s a chart of the Nasdaq Composite along with the number of new 52-week highs within the index. The Nasdaq just closed higher for the 10th consecutive day and the 5th consecutive week. Willie points out that we haven’t seen this many new highs within the Nasdaq since March. It wouldn’t be shocking to see the index cool off in the short term, given the face-ripping rally we’ve seen recently. However, in a comment, Willie explained that this is a bullish development longer-term; “New highs expanding is one of the most bullish things we can see from the stock market. When they stop expanding and start to contract is when we start to see trouble.”
Quote of the Day
“Success is no accident. It is hard work, perseverance, learning, studying, sacrifice, and most of all, love of what you are doing or learning to do.”
– Pelé
Top Links
Weekly Market Performance – LPL Financial Research
The team at LPL Financial Research recaps this week’s market performance.
Best and Worst Performers Since the COVID Crash Low – Bespoke
Bespoke breaks down the best and worst-performing stocks in the S&P 1500 since the March 2020 low.
Growth Takes the Lead Again – Potomac Fund Management
Dan Russo takes a look at a few important risk ratios.
Typical November Trading: Firm Begining, Tepid Across Mid-Month, Rally to Close – Almanac Trader
Seasonality expert, Jeff Hirsch examines how stocks have historically performed throughout November.
Fill the Gap Episode 11, with Special Guest Irusha Peiris, CMT – CMT Association
In this podcast, Irusha Peris shares some insights on his career and investment process.
Top Tweets
Wall Street Week…
Dow: All-Time High
S&P: All-Time High
Nasdaq: All-Time High
Russell 2000: All-Time High
Wilshire 5000: All-Time High
Hourly Wages: All-Time High (+4.9% YoY)
Unemployment Rate: 4.6%, lowest since start of pandemic
US Rents: up 17% YTD
Fed: 0% rates still needed— Charlie Bilello (@charliebilello) November 5, 2021
$QQQ up today for a 10th day in a row. Happened zero times 2000-09 and 7 times since, none a top of any significance. Chart from @TradewellApp pic.twitter.com/Hnu3Fxe1pw
— Urban Carmel (@ukarlewitz) November 5, 2021
Recent climb for S&P 500 (blue) has been confirmed by an increase in @NYSE advance-decline line (orange)
[Past performance is no guarantee of future results] pic.twitter.com/Il7uQIgDCT— Liz Ann Sonders (@LizAnnSonders) November 5, 2021
Sporty 6% gain for small caps this week. $IWM pic.twitter.com/pVt0TOc4W0
— Mike Zaccardi, CFA, CMT (@MikeZaccardi) November 5, 2021
$IWM so pretty. ❤️ pic.twitter.com/Twp3tWS7fb
— Stage 2 Stocks (@Stage2Stocks) November 5, 2021
Travel stocks seeing nice gap up this morning. Cruise lines up 8% and airlines seeing 4-6% gains today. pic.twitter.com/RS3X6J8bsy
— Andrew Thrasher, CMT (@AndrewThrasher) November 5, 2021
$XHB Closing Weekly ATH
Got some work to do this weekend. pic.twitter.com/np2Y7Kur8L— Sam McCallum ??????? (@honeystocks1) November 5, 2021
The beta chase is back on $SPHB ? pic.twitter.com/vvHVA8IDlB
— Steven Strazza (@sstrazza) November 5, 2021
$SPX sector and industry ETF performance in November over last 10 years.
-Semis $SMH
-Transports $IYT
-Biomeds $XBI
-Dow $DIA
-Small caps $IWM pic.twitter.com/4j2Wkq5g1E— Seth Golden (@SethCL) November 5, 2021
$TNX US 10-year Treasury Note Yield 1D
Trading into the 50 day moving average. pic.twitter.com/nF08IrqvKS
— Shane C. Murphy (@murphycharts) November 5, 2021
$TNX on pace to close below Sept 30 lows. Going to test the 1.40 breakout level? pic.twitter.com/5FD63cjIxa
— David Rath (@DJwrath) November 5, 2021
Pretty good evidence that bitcoin $btcusd observes the business cycle… pic.twitter.com/UIjdbOmbfs
— Mike Singleton, CFA (@InvictusMacro) November 5, 2021
the implications of this resolution are going to trickle into all our portfolios. which way is it gonna be? pic.twitter.com/szNHWsDIkm
— J.C. Parets (@allstarcharts) November 5, 2021
Commodities pic.twitter.com/krXZeS0bPT
— Greg Schnell, CMT (@Schnellinvestor) November 5, 2021
SOTU re: $SPX:
5 week winning streak
Higher 16 of 18 days
4 consecutive weekly returns of 1%+
Decisive breakout to new ATH'sMolten lava hot, don't be that person who calls for a generational top when we pullback 2% please.
— Steve Deppe, CMT (@SJD10304) November 5, 2021
You’re all caught up now. Thanks for reading!