Daily Chart Report π Wednesday, January 8, 2025
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Todayβs Summary
Wednesday, January 8, 2025
Indices: Dow +0.25% | S&P 500 +0.16% | Nasdaq +0.04% | Russell 2000 -0.48%
Sectors: 8 of the 11 sectors closed higher. Materials led, gaining +0.55%. Communications lagged, falling -0.59%.
Commodities: Crude Oil futures fell -1.25% to $73.32 per barrel. Gold gained +0.26% to $2,672 per oz.
Currencies: The US Dollar Index rose +0.30% to $109.00.
Crypto: Bitcoin fell -1.94% to $95,065. Ethereum fell -1.60% to $3,326.
Volatility: The Volatility Index fell -0.79% to 17.69.
Interest Rates: The US 10-year Treasury yield rose to an eight-month high of 4.693%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared @TrendSpider.
- The S&P 500 ($SPY) closed slightly higher today (+0.16%) after successfully testing its post-election gap earlier in the session.
- This level also represents the neckline of a potential Head & Shoulders Top. However, buyers have defended this level several times since the election.
- Momentum has remained strong during this two-month consolidation, with RSI refusing to reach oversold territory (below 30) while printing higher lows recently.
The Takeaway: The S&P 500 ($SPY) successfully tested its post-election gap today. Tension is growing at this key battleground, as are the implications of a break or bounce.
Top Links
Home Construction New 5-month Lows - All Star Charts
JC Parets examines the recent weakness in Homebuilding stocks.
Chinese Bond Yields Collapse; U.S., German Yields Breaking Out? - Kimble Charting Solutions
Chris Kimble looks at international bond yields.
ETFs to Watch for in Next Wave of AI Growth in 2025 - Yahoo Finance
Todd Sohn offers his thoughts on AI-related ETFs.
How to Drop a VWAP - The Strazza Letter
Steve Strazza shows how he uses the anchored VWAP indicator.
Four Things the S&P 500 MUST Do Now - CappThesis
Frank Cappelleri outlines a few things to watch in the new year.
Quote of the Day
"Everybody has some information. The function of the markets is to aggregate that information, evaluate it, and get it incorporated into prices."
- Merton Miller
Top Tweets