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Daily Chart Report 📈 Wednesday, December 29th, 2021

December 29, 2021 Patrick Dunuwila

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Today’s Summary
Wednesday, December 29th, 2021

Indices: Dow +0.25% | S&P 500 +0.14% | Nasdaq -0.10% | Russell 2000 +0.12%

Sectors: 8 of the 11 sectors closed higher. Real Estate led, gaining 0.61%. Energy lagged, falling 0.64%.

Commodities: Crude Oil futures moved higher for the sixth consecutive day, rising 0.80% to $76.59 per barrel. Gold futures slipped 0.28% $1,806 per ounce.

Currencies: The US Dollar Index fell 0.25%.

Interest Rates: The US 10-year Treasury yield rose to 1.555%.

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


Chart of the Day

$DJIA joining the party at new all-time highs. pic.twitter.com/7OxCrObHzf

— Shane C. Murphy (@murphycharts) December 29, 2021

Today’s Chart of the Day was shared by Shane Murphy (@murphycharts). It’s a daily candlestick of the Dow Jones Industrial Average over the past year. The Dow rose for the sixth consecutive day today, but more importantly, it closed an all-time high for the first time in seven weeks. The S&P 500 also managed to close at a record high today, and the Nasdaq 100 is less than a percent away from joining the party. The Russell 2000 is still a trendless mess as it battles with a flat 200-day moving average. Nonetheless, the Dow joining the S&P 500 at all-time highs is a bullish development. After more than a month of no progress and a 6.6% drawdown, the Dow looks ready to move higher.


Quote of the Day

“Bad news travels at the speed of light;
good news travels like molasses.”

– Tracy Morgan


Top Links

Charts of the Year – LPL Financial Research
The team at LPL Financial Research sums up this year in charts.

Riding the Seasonal Bull – Humble Student of the Markets
Cam Hui takes a look at what has historically happened when the Santa Claus Rally starts of strong like it did this year.

The S&P is the Place to Be – Potomac Fund Management
Dan Russo highlights some key takeaways from recent price action.

Options Traders Reverse Their Bearish Bets – SentimenTrader
Jason Goepfert examines a reversal in the Put/Call Ratio.

IPO Death Cross – Bespoke
Bespoke points out that a Death Cross in the $IPO ETF may not be as ominous as it sounds.


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Top Tweets

S&P 500 closes at an all-time high for the 70th time this year. Only 1995 has had more all-time highs in a single calendar year. $SPX pic.twitter.com/YIWtcKkl0l

— Charlie Bilello (@charliebilello) December 29, 2021

The odds of $SPX being up any given year since 1925 is 73%.

Any 3-yr time period odds of positive returns ~87%, and so on and so on and so on with ever increasing odds.

Permabears, you're doing it wrong. pic.twitter.com/wUmtpHF9Q9

— Seth Golden (@SethCL) December 29, 2021

Another insane fact:

Since 1950, the S&P 500 has been up at least 20% in more years than it's been down.

(thx for the astute observation, @hunterstraus)https://t.co/fbz3JFQaY5

— Callie Cox (@callieabost) December 29, 2021

$SPY Weekly. Breaking out within a steady uptrend. pic.twitter.com/krOErtge2w

— Brian G (@alphacharts) December 29, 2021

#NQ_F, 1h

Nasdaq is bull flagging as well. pic.twitter.com/FWjvwPZjBt

— Yuriy Matso (@yuriymatso) December 29, 2021

$ARKK loss to the $SPX has widened another 190 bps this morning — now 52.53 % YTD
a close on last sale would be 4th lowest in 2021 pic.twitter.com/38BZnho8Km

— Tom Hearden (@followtheh) December 29, 2021

You could train a monkey to recognize an ascending triangle on a chart. Have you though about WHY it is typically a bullish pattern? $PFSI weekly

Buyers becoming more aggressive both PRICE and TIME wise. pic.twitter.com/LKT0aMdJFZ

— Brian Shannon, CMT (@alphatrends) December 29, 2021

Here's Micron Technology in the process of reclaiming its dot-com bubble highs.$MU pic.twitter.com/7f2Z830KqH

— Alfonso Depablos (@AlfCharts) December 29, 2021

This is not a spot where I'd be looking to put new money to work in Ethereum…$ETHUSD pic.twitter.com/2IcSS8sUAC

— Ian McMillan, CMT (@the_chart_life) December 29, 2021

#bitcoin -31% from the Nov 10 high. pic.twitter.com/wEiV8SGXNH

— Mike Zaccardi, CFA, CMT (@MikeZaccardi) December 29, 2021

No cigar still on #BTC… Needs more time $BTC.X pic.twitter.com/edy9Q5BZAU

— Rolando Santos (@TKPTrader) December 29, 2021


You’re all caught up now. Thanks for reading!

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