Daily Chart Report π Friday, January 10, 2025
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Todayβs Summary
Friday, January 10, 2025
Indices: S&P 500 -1.54% | Nasdaq -1.57% | Dow -1.63% | Russell 2000 -2.22%
Sectors: Energy was the only sector that closed higher, gaining +0.41%. Real Estate lagged, dropping -2.42%.
Commodities: Crude Oil futures rose +3.58% to $76.57 per barrel. Gold gained +0.90% to $2,715 per oz.
Currencies: The US Dollar Index rose +0.44% to a two-year high of $109.64.
Crypto: Bitcoin rose +2.33% to $94,702. Ethereum rose +1.48% to $3,267.
Volatility: The Volatility Index rose +8.08% to 19.53.
Interest Rates: The US 10-year Treasury yield rose to a 52-week high of 4.763%.
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 by @GrantHawkridge.
- The S&P 500 fell -1.94% this week, closing at its lowest since the election. It's fallen in four of the past five weeks, pulling back a total of -4.3% on a closing basis.
- While the index remains comfortably above its 200-day moving average, more than half of its components are below their 200-DMAs for the first time since November 2023.
- Taking a more detailed look at the damage beneath the surface of the index, Grant points out:
π’ 11.4% are trending higher, above their 50-DMA and 200-DMA
π‘ 37.2% are above their 200-DMA, but below their 50-DMA
π΄ 46.8% are trending lower, below their 50-DMA and 200-DMA
The Takeaway: Breadth continues to deteriorate beneath the surface of the S&P 500.
Top Links
Highest Bond Yields in a Year, Quantum Compute Rug Pull, & VIX at 20 - Trade Risk
Evan Medeiros recaps this week's price action in the markets.
Today's Number is... 0.64% - The Daily Number
Grant Hawkridge examines what the first five days of January suggest for the year ahead.
New Bank Trade - The Strazza Letter
Steve Strazza highlights the breakdown in Bank stocks.
Stocks Wrestle with Rates Typical January Action So Far - Almanac Trader
Jeff Hirsch looks at how the major indices typically perform throughout January.
Cracks in the Ice - The Weekly Trend Podcast
Ian McMillan and Kevin Firari discuss the major trends and themes in the market.
Quote of the Day
βThe greater the difficulty,
the more the glory in surmounting it.β
- Epicurus