Daily Chart Report π Friday, February 28, 2025
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Todayβs Summary
Friday, February 28, 2025
Indices: Nasdaq +1.62% | S&P 500 +1.59% | Dow +1.39% | Russell 2000 +1.09%
Sectors: All 11 sectors closed higher. Financials led, rising +2.05%. Real Estate lagged but still rose +0.70%.
Commodities: Crude Oil futures fell -0.84% to $69.76 per barrel. Gold dropped -1.64% to $2,849 per oz.
Currencies: The US Dollar Index rose +0.25% to $107.57.
Crypto: Bitcoin fell -0.38% to $84,321. Ethereum dropped -2.99% to a five-month low of $2,236.
Volatility: The Volatility Index dropped -7.10% to 19.62.
Interest Rates: The US 10-year Treasury yield dropped to 4.203%.
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 Ricardo Sarraf (@nullcharts).
- The S&P 500 recovered over half its weekly loss on Friday. It bounced +1.6%, closing the week down less than one percent (-0.97%).
- After filling the post-election gap yesterday, today's bounce started at a confluence of support around 5,865. This level has been validated as horizontal support several times since the election.
- This level coincides with the AVWAP from the August 5th low (blue), which supported pullbacks in September and January. The next task for bulls will be reclaiming the upper bounds of the post-election range, around 6,100.
The Takeaway: The S&P 500 pared its weekly loss on Friday after successfully testing a confluence of support. If 5,865 holds next week, the next task for the bulls will be 6,100.
Top Links
S&P 500 Best on First Trading Day of March Last 25 Years
Jeff Hirsch points out that the first trading day of March (Monday) has historically leaned bullish.
Stock Market & Crypto Analysis 2/28/25 - Brian Shannon
Brian Shannon reviews this week's price action and some key levels to watch next week.
Jimmy McGinty - The Weekly Trends
David Zarling and Ian McMillan discuss the current market environment.
Charts Rolling Over or Holding in Logical Manner? - Ciocacco Capital Management
Chris Ciovacco gives some long-term context to this week's volatility.
When the Weekend Was a Good Thing - Bespoke
Bespoke points out that Friday's and Monday's have been especially weak lately.
Quote of the Day
βKeep in mind that progress is not always linear. It takes constant course correcting and often a lot of zigzagging."
- Buzz Aldrin