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Today’s Summary
Thursday, December 23rd, 2021
Indices: Dow +0.55% | S&P 500 +0.62% | Nasdaq +0.85% | Russell 2000 +0.89%
Sectors: 9 of the 11 sectors closed higher. Consumer Discretionary led, gaining 1.39%. Real Estate lagged, falling 0.30%.
Commodities: Crude Oil futures rose 1.42% to $73.79 per barrel. Gold futures gained 0.53% $1,812 per ounce.
Currencies: The US Dollar Index inched lower by 0.06%.
Interest Rates: The US 10-year Treasury yield rose to 1.494%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
I was promised an Omicron catastrophe pic.twitter.com/ttbu9SKKUz
— 𝐏𝐢𝐧𝐞𝐜𝐨𝐧𝐞 𝐌𝐚𝐜𝐫𝐨 (@pineconemacro) December 23, 2021
Today’s Chart of the Day was shared by Pinecone Macro (@pineconemacro), It’s a daily candlestick chart of S&P 500 futures over the past three months. Christmas came early for the bulls this year, with the S&P 500 closing at an all-time high today. The market will be closed tomorrow for Christmas Eve, but Monday kicks off the famous Santa Claus Rally period, which includes the last five trading days of December and the first two in January. Over the past 70 years, this seven-day stretch has been higher 78.9% of the time for an average gain of 1.33%. However, when Santa fails to show up during this period, it has historically been a bad omen for January and Q1. The S&P 500 is in a good position here closing at a fresh high ahead of one of the most bullish seven-day stretches of the year. But either way, there will be some valuable information to be gleaned from the next seven days of price action. Click here for everything you need to know about the Santa Claus Rally.
Quote of the Day
“If Santa should fail to call,
bears may come to Broad and Wall.”
– Yale Hirsch
Top Links
Santa Claus Rally: After a Choppy December, ‘Stock Probably Go a Little Higher’ Strategist Says – Yahoo Finance
In this clip, Ryan Detrick of LPL Financial Research explains everything you need to know about the Santa Claus Rally.
Nasdaq & Russell 2000 Most Bullish Day After Christmas – Almanac Trader
Seasonality expert, Jeff Hirsch examines how the major indices have historically performed the day after Christmas.
Only One Other Year Can Truly Compare to 2021 – SentimenTrader
Jason Goepfert points out that this year was fairly similar to 1995 for the S&P 500.
Monitoring Trends in the Indices with Dan Russo – TD Ameritrade Network
In this clip, Dan Russo shares his outlook on the market.
FICC Analysis for 2022 with Paul Ciana – Technical Analysis Radio
In this podcast, JC Parets and Paul Ciana of Bank of America discuss the technical developments in the fixed income markets.
Top Tweets
*S&P 500 RISES 0.6% TO END AT AN ALL-TIME HIGH
— *Walter Bloomberg (@DeItaone) December 23, 2021
S&P 500 closes at an all-time high for the 68th time this year. Only 1995 has had more all-time highs in a single calendar year. $SPX pic.twitter.com/92dcWbtg3s
— Charlie Bilello (@charliebilello) December 23, 2021
2021 was a very good year for $SPX Seasonality Tracking: set a mid-Oct low, Oct Surge, early November pullback, then final melt-up starting mid-Dec. Last phase now. If it continues tracking, this buy dips rally goes until Jan 10-15
From there, seasonality finally favors bears pic.twitter.com/tZA0AWdpqT
— Adam Mancini (@AdamMancini4) December 23, 2021
$IWM Russell 2000 Index
Weekly Bullish Engulfing 😬
Trend determined by 50-period MA. pic.twitter.com/TP4USG94JG
— Shane C. Murphy (@murphycharts) December 23, 2021
Healthcare Sector $XLV – new all-time highs.
2nd highest weighting in $SPX. Plenty of strong stocks in the sector as well, including $ABT $ABBV $PFE $UNH $LLY. pic.twitter.com/boMQjW5IuI
— Larry Tentarelli, Blue Chip Daily (@LMT978) December 23, 2021
Offense/Defense Index sends a positive message, at least for now. (tech and discretionary over health and staples) $XLX $XLY $XLV $XLP Note also how financials are not in this. pic.twitter.com/X4V1iaPUpx
— Michael Kahn, CMT (@mnkahn) December 23, 2021
Was that just a mean reversion… I would say so, for now… $XLP $XLU / $SPY pic.twitter.com/bMhIKVgW1W
— Grant Hawkridge (@granthawkridge) December 23, 2021
If Peloton was ever going to stop going down, this would be a logical place for that to happen $PTON pic.twitter.com/xoPPbGz5Nb
— J.C. Parets (@allstarcharts) December 23, 2021
$TOTAL2 / $BTC Total crypto marketcap less Bitcoin vs. Bitcoin. Pending a breakout from a 4 year consolidation. Probably nothing…enter #altszn 🤫 $ETH pic.twitter.com/m5RJVlmsMv
— Luke Hatch (@HatchingGains) December 23, 2021
The Annual "Christmas Tree" stacking chart of historical annual returns for the S&P 500, published every Christmas week for the past 20 years.
Happy holidays to one and all. pic.twitter.com/Skd2pY9bUE
— Carter Braxton Worth (@CarterBWorth) December 23, 2021
You’re all caught up now. Thanks for reading!