Daily Chart Report π Monday, January 13, 2025
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Todayβs Summary
Monday, January 13, 2025
Indices: Dow +0.86% | Russell 2000 +0.24% | S&P 500 +0.16% | Nasdaq -0.30%
Sectors: 9 of the 11 sectors closed higher. Materials led, gaining +2.23%. Utilities lagged, dropping -1.16%.
Commodities: Crude Oil futures rose +2.94% to $78.82 per barrel. Gold dropped -1.34% to $2,679 per oz.
Currencies: The US Dollar Index fell -0.12% to $109.50.
Crypto: Bitcoin was unchanged (+0.01%) at $94,505. Ethereum dropped -3.98% to $3,136.
Volatility: The Volatility Index fell -1.79% to 19.18.
Interest Rates: The US 10-year Treasury yield rose to a 52-week high of 4.790%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by @CyclesFan.
- Despite opening lower by more than -1% this morning, the Russell 2000 ($IWM) closed higher for the first time in four days, rising +0.2%.
- Over the past six weeks, $IWM has corrected -10.6% on a closing basis. It peaked around Thanksgiving after fumbling its first attempt at all-time highs in three years.
- @CyclesFan points out that $IWM tagged its rising 200-day moving average for the second time in the past year before bouncing today. This is another critical line in the sand to watch this week.
The Takeaway: $IWM successfully tested its rising 200-day moving average today before reversing higher. This has been a meaningful inflection point in recent years.
Top Links
Itβs Messy Out There - Alfonso's Daily Note
Alfonso De Pablos highlights several vulnerable areas of the market.
The Rate Trade, Nvidia Wobbles And The Big Jobs Conspiracy - The Rotation Report
Aaron and Dan discuss the noteworthy trends and themes across the markets.
US Dollar Wrecking Ball - All Star Charts
JC Parets looks at the relentless rally in the US Dollar.
Technicals Tell The Story with Jay Woods, CMT - Fill The Gap Podcast
Jay Woods sits down with Tyler Wood and David Lundgren to talk technicals and more.
I Sold My SOL - The Strazza Letter
Steve Strazza shares his thoughts on the weakness in Solana ($SOLUSD) and the broader crypto market.
Quote of the Day
"The best investors Iβve seen all have an above-average ability to change their mind."
- Joel Tillinghast