Daily Chart Report ๐ Monday, February 24, 2025
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Todayโs Summary
Monday, February 24, 2025
Indices: Dow +0.08% | S&P 500 -0.50% | Russell 2000 -0.78% | Nasdaq -1.21%
Sectors: 6 of the 11 sectors closed higher. Health Care led, rising +0.81%. Tech lagged, dropping -1.43%.
Commodities: Crude Oil futures rose +0.43% to $70.70 per barrel. Gold rose +0.34% to an all-time high of $2,963 per oz.
Currencies: The US Dollar Index ticked higher by +0.06% to $106.70.
Crypto: Bitcoin dropped -4.89% to a three-month low of $91,554. Ethereum dropped -10.86% to $2,513.
Volatility: The Volatility Index rose +4.12% to 18.97.
Interest Rates: The US 10-year Treasury yield dropped to 4.40%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Today's Chart of the Day was shared by Steve Strazza (@sstrazza).
- It was a bloody Monday for the Crypto markets. Bitcoin dropped -4.9% while the top three altcoins ($ETH, $XRP, and $SOL) each suffered double-digit declines of -10.9%, -11.6%, and -15.6%, respectively.
- Steve points out that several leading stocks and coins are breaking down. Solana ($SOL), Coinbase ($COIN), and the company formerly known as MicroStrategy ($MSTR) have broken their AVWAPS from the Q3 low.
- While Bitcoin remains rangebound between $89K and $109k, this broad deterioration across the Crypto space suggests Bitcoin will resolve lower from its three-month range.
The Takeaway: While Bitcoin remains rangebound, several leaders hint at further pain for Crypto in the near term. Check out the full note here.
Top Links
See a little...see a lot - Hostile Charts
Larry Thompson looks at $NVDA and the failed breakout in the S&P 500.
A Time For Market Patience Turn Turn Turn
Jeff Hirsch breaks down the seasonal outlook for stocks.
Streaky - Bespoke
Bespoke highlights the weekly winning/losing streaks in Gold and Crude Oil.
Crypto Bulls Are Running Out of Arguments - Alfonso's Daily Note
Alfonso De Pablos looks at the weakness in Crypto.
Can Nvidia Save The Market? - The Rotation Report
Aaron and Dan of the Rotation Report discuss some of the noteworthy trends and themes across the market.
Quote of the Day
"Any market will gain respectability if it goes up high enough and any market will lose respectability if it goes down enough."
- Arnold Van Den Berg