Daily Chart Report π Friday, February 21, 2025
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Todayβs Summary
Friday, February 21, 2025
Indices: Dow -1.69% | S&P 500 -1.71% | Nasdaq -2.06% | Russell 2000 -2.94%
Sectors: 2 of the 11 sectors closed higher. Consumer Staples led, rising +1.17%. Tech lagged, dropping -2.71%.
Commodities: Crude Oil futures dropped -2.87% to $70.40 per barrel. Gold inched lower by -0.10% to $2,953 per oz.
Currencies: The US Dollar Index rose +0.29% to $106.64.
Crypto: Bitcoin dropped -2.24% to $96,131. Ethereum dropped -2.81% to $2,662.
Volatility: The Volatility Index jumped +16.42 to 18.22.
Interest Rates: The US 10-year Treasury yield dropped to 4.431%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Trend Spider (@TrendSpider)
- Stocks sold off Friday, with the S&P 500 ($SPY) and Nasdaq 100 ($QQQ) dropping -1.7% and -2.1%, respectively.
- Both indices made record highs earlier this week before Friday's sell-off. This qualifies as a Failed Breakout, or Bull Trap, as it's also called.
- Caution is warranted if $SPY and $QQQ remain below their former highs. As the saying goes, "From failed moves come fast moves in the opposite direction."
The Takeaway: After a nasty failed breakout this week, $SPY and $QQQ are vulnerable to further downside in the near term.
Top Links
The World is Turning - Strazza Letter
Steve Strazza looks at the rotation into international stocks.
Stock Market Whipsaw Continues, Walmart Warns, NVIDIA earnings - Trade Risk
Evan Medeiros breaks down this week's price action across the markets.
Februaryβs Weak Spot - Alfonso's Daily Note
Alfonso De Pablos highlights the seasonal weakness in the second half of February.
Was Friday's Sell-Off in Stocks the Beginning of the End? - Ciovacco Capital Management
Chris Ciovacco puts Friday's sell-off into perspective.
The Bearish Thesis - The Weekly Trend Podcast
David Zarling and Ian McMillan discuss the bear case for US Stocks and more.
Quote of the Day
βDonβt be a hero. Donβt have an ego. Always question yourself and your ability. Donβt ever feel that you are very good. The second you do, you are dead.β
- Paul Tudor Jones