Daily Chart Report 📈 Tuesday, January 7, 2025
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Today’s Summary
Tuesday, January 7, 2025
Indices: Dow -0.42% | Russell 2000 -0.74% | S&P 500 -1.11% | Nasdaq 100 -1.79%
Sectors: 2 of the 11 sectors closed higher. Energy led, gaining +1.00%. Technology lagged, falling -2.01%.
Commodities: Crude Oil futures rose +0.94% to $74.25 per barrel. Gold gained +0.68% to $2,665 per oz.
Currencies: The US Dollar Index rose +0.37% to $108.68.
Crypto: Bitcoin dropped -5.22% to $96,946. Ethereum slid -8.36% to $3,380.
Volatility: The Volatility Index gained +11.23% to 17.83.
Interest Rates: The US 10-year Treasury yield rose to an eight-month high of 4.685%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
🏆 Today's Chart of the Day was shared by @WallStWingman.
- The US 10-Year Treasury Yield ($TNX) closed at an eight-month high today, reaching a potential inflection point of around 4.7%.
- It peaked at 5.0% in October 2023, and 4.7% has been the ceiling ever since, with notable rejections in Nov. 2023 and April 2024. The 10-year yield could revisit 5.0% if it clears this well-defined resistance level.
- A breakout would likely put pressure risk assets, while another rejection would likely be positive for risk assets.
The Takeaway: The 10-year Treasury Yield is testing an inflection point at 4.7%. Clearing this hurdle would open the door for a potential rally back to 5.0%.
Top Links
What Happens After Stocks Gain 20%? - Carson Research
Ryan Detrick looks at how the S&P 500 has historically performed after a strong year like 2024.
A Prerequisite for a Correction - All Star Charts
JC Parets checks on the amount of new 52-week lows within the S&P 500.
The Risk for a Policy Mistake is Elevated, Says Renaissance’s Jeff deGraaf
Jeff deGraaf shares his thoughts on interest rates and the stock market.
Today's Number is... 4 - The Daily Number
Grant Hawkridge examines the internals of the S&P 500.
Argentina’s Market Renaissance: A Trend Worth Following - Alfonso's Daily Note
Alfonso De Pablos highlights the improving technical backdrop for Argentina.
Quote of the Day
"At all times, in all markets, in all parts of the world, the tiniest change in rates changes the value of every financial asset."
- Warren Buffett