Daily Chart Report π Wednesday, January 22, 2025
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Todayβs Summary
Wednesday, January 22, 2025
Indices: Nasdaq 100 +1.33% | S&P 500 +0.61% | Dow +0.30% | Russell 2000 -0.61%
Sectors: 2 of the 11 sectors closed higher. Technology led, gaining +2.26%. Utilities lagged, falling -2.16%.
Commodities: Crude Oil futures fell -0.51% to $75.44 per barrel. Gold rose +0.42% to $2,771 per oz.
Currencies: The US Dollar Index rose +0.19% to $108.28.
Crypto: Bitcoin fell -2.37% to $103,632. Ethereum fell -2.59% to $3,241.
Volatility: The Volatility Index rose +0.40% to 15.11.
Interest Rates: The US 10-year Treasury yield rose to 4.613%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Duality Research (@DualityResearch).
- The S&P 500 Semiconductor Index is testing all-time highs after a false start this Summer.
- This is an equally weighted index. Therefore, it broadly represents 'the semiconductor industry' without being distorted by heavyweights like Nvidia ($NVDA), Broadcom ($AVGO), or Taiwan Semi ($TSM).
- The index broke out of a three-year Ascending Triangle in July before failing and correcting. However, it has reclaimed its former highs with stronger breadth, opening the door for a more sustainable breakout.
The Takeaway: While many continue to search for a top in Semiconductor stocks, this equally weighted basket is just starting to emerge from a three-year consolidation phase.
Top Links
Infrastructure Stocks Gear Up for a Breakout - Alfonso's Daily Note
Alfonso De Pablos highlights the strength in infrastructure stocks ($IGF).
The Market's New Trend in 2025 - CappThesis
Frank Cappelleri breaks down the notable trends and themes to start the new year.
Tech Hits 52-week Lows vs QQQs - All Star Charts
JC Parets looks at the sector rotation beneath the surface of the major indices.
How Stocks Tend to Perform After Inauguration Day - Schaeffer's Investment Research
Rocky White examines how the S&P 500 has historically performed after the 20 presidential inaugurations since World War II.
Pelosi Porfolio Update - Hot Corner
Steve Strazza breaks down Nancy Pelosi's recent bets.
Quote of the Day
"It's OK to be wrong;
it's unforgivable to stay wrong."
- Marty Zweig