Daily Chart Report ๐ Wednesday, February 12, 2025
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Todayโs Summary
Wednesday, February 12, 2025
Indices: Nasdaq +0.12% | S&P 500 -0.27% | Dow -0.50% | Russell 2000 -0.87%
Sectors: The only positive sector was Communications, rising +0.11%. Energy lagged, falling -2.41%.
Commodities: Crude Oil futures dropped -2.66% to $71.37 per barrel. Gold fell -0.13% to $2,929 per oz.
Currencies: The US Dollar Index ticked higher by +0.04% to $107.97.
Crypto: Bitcoin rose +2.77% to $97,882. Ethereum rose +5.25% to $2,739.
Volatility: The Volatility Index fell -0.81% to 15.88.
Interest Rates: The US 10-year Treasury yield rose to 4.627%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Today's Chart of the Day was shared by Yuriy Matso (@YuriyMatso).
- The Nasdaq 100 ($NQ_F) closed slightly higher today (+0.08%) despite dropping more than -1.2% this morning.
- It still hasn't made an all-time high in 2025. Over the past two months, it's coiled into a triangle pattern, making lower highs and higher lows. This narrowing pattern suggests a large resolution is brewing.
- With today's bullish reversal, the Nasdaq is testing the upper bounds of the pattern, a two-month falling trendline. A breakout will be confirmed if the Nasdaq clears its January peak at 22,000.
The Takeaway: The Nasdaq closed slightly higher today after a bullish intraday reversal. It's testing the upper bounds of a two-month triangle pattern, and clearing 22,000 would confirm a breakout.
Top Links
Friday Before Presidentsโ Day Weekend: S&P 500 Up 10 of Last 14 - Almanac Trader
Jeff Hirsch examines how stocks have historically fared around Presidents' Day weekend.
Animal Spirits in Europe - The Strazza Letter
Steve Strazza highlights the technical improvements in European stocks.
Is Inflation Making a Comeback? - Alfonoso's Daily Note
Alfonso De Pablos looks at commodities and inflation.
The Gift and Curse of Leveraged ETFs - Yahoo Finance
Todd Sohn joins Jared Blikre to talk about the nuances of leveraged ETFs.
Your Trading Bias Revealed - CappThesis
Frank Cappelleri discusses how to identify and interpret chart patterns.
Quote of the Day
"What do you call a stock that's down 90%?
A stock that was down 80% and then got cut in half."
- David Einhorn