Daily Chart Report 📈 Thursday, February 20, 2025
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Today’s Summary
Thursday, February 20, 2025
Indices: S&P 500 -0.43% | Nasdaq -0.48% | Russell 2000 -0.91% | Dow -1.01%
Sectors: 3 of the 11 sectors closed higher. Energy led, rising +0.91%. Financials lagged, falling -1.53%.
Commodities: Crude Oil futures rose +0.53% to $72.48 per barrel. Gold fell +0.68% to an all-time high of $2,956 per oz.
Currencies: The US Dollar Index dropped -0.77% to $106.33.
Crypto: Bitcoin rose +1.75% to $98,337. Ethereum gained +0.86% to $2,739.
Volatility: The Volatility Index rose +2.56% to 15.65.
Interest Rates: The US 10-year Treasury yield fell to 4.509%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
🏆 Today's Chart of the Day was shared by Jonathan Harrier (@jonathanharrier).
- US Stocks pulled back today, but the China Large Cap ETF ($FXI) rose +1.9% to a four-month high. $FXI has outperformed the S&P 500 for six consecutive weeks, gaining +17.4% year-to-date, vs +4.2% for $SPY.
- Despite the recent outperformance, shorts sellers got more aggressive this week. Short interest on $FXI increased from 41.2% last week to 55.5% this week.
- Jonathan points out that $FXI is testing the 'Tepper Top' from October. Legendary investor David Tepper was ridiculed for buying China after a +20% rally in September. However, $FXI was due for a correction; it has fully recovered, and Tepper was quietly doubling down the entire time.
The Takeaway: China ($FXI) has outperformed the S&P 500 for six consecutive weeks. Shorts got more aggressive this week while $FXI tests the 'Tepper Top' from October.
Top Links
Today's Number is... 496 - The Daily Number 💯
Grant Hawkridge examines the ongoing uptrend in the Technology Sector.
We’re Not on the Cusp of a Bear Market, But Consolidation is Likely, Says Strategas’ Chris Verrone
Chris Verrone shares his thoughts on the current market environment.
Playing Devil’s Advocate - Alfonso's Daily Note
Alfonso De Pablos looks at the recent weakness in Homebuilding stocks.
Three Signs of the Bear and What May Come Next! - StockCharts.com
David Killer outlines three bearish technical developments.
Quote of the Day
"I believe it’s hard to predict the future. It’s not that hard to predict the present.
In other words, it’s not that hard to understand what’s going on today."
- Howard Marks