Daily Chart Report ๐ Tuesday, February 11, 2025
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Todayโs Summary
Tuesday, February 11, 2025
Indices: Dow +0.28% | S&P 500 +0.03% | Nasdaq -0.29% | Russell 2000 -0.53%
Sectors: 9 of the 11 sectors closed higher. Consumer Staples led, rising +0.96%. Consumer Discretionary lagged, falling -1.14%.
Commodities: Crude Oil futures rose +1.38% to $73.32 per barrel. Gold was flat (-0.06%) at $2,933 per oz.
Currencies: The US Dollar Index dropped -0.38% to $107.92.
Crypto: Bitcoin fell -1.76% to $95,754. Ethereum dropped -2.25% to $2,602.
Volatility: The Volatility Index rose +1.33% to 16.01.
Interest Rates: The US 10-year Treasury yield rose to 4.539%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Today's Chart of the Day was shared by Brian Shannon (@alphatrends).
- The S&P 500 ($SPY) barely moved today (+0.08%) as buyers and sellers took a breather ahead of several key events tomorrow, including CPI, Earnings, and Powell's congressional testimony.
- $SPY has only made one all-time high this year, which turned out to be a failed breakout. It's made zero progress since early December while refusing to fall more than -5% on a closing basis... Just a choppy mess!
- Over the past three weeks, $SPY has coiled into a triangle pattern, directly below all-time highs. Brian points out that $SPY has recaptured its 5-day moving average and several notable AVWAPs, suggesting the short-term trend is bullish.
The Takeaway: The S&P 500 ($SPY) was flat today in what could be the calm before the storm. It's tightly coiled below all-time highs, and the short-term trend is bullish ahead of tomorrow's events.
Top Links
Five Worries We Have That Arenโt Tariffs - Carson Research
Ryan Detrick lays out five potential headwinds facing the bull market.
Just More Breadth Expansion - Al Star Charts
JC Parets looks at the expansion in global participation.
This is a Market That's Been 'Churning' Under the Surface, Says Strategas' Chris Verrone - CNBC
Chris Verrone shares his thoughts on the current market environment.
Three Technical Tools to Minimize Endowment Bias - StockCharts
David Keller offers three ways to overcome a common psychological bias.
Quote of the Day
โIf you diversify, control your risk,
and go with the trend, it just has to work."
- Larry Hite