Daily Chart Report π Tuesday, March 4, 2025
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Todayβs Summary
Tuesday, March 4, 2025
Indices: Nasdaq -0.36% | Russell 2000 -1.08% | S&P 500 -1.22% | Dow -1.55%
Sectors: All 11 sectors closed lower. Technology led but closed slightly negative -0.08%. Financials lagged, dropping -3.52%.
Commodities: Crude Oil futures inched lower by -0.16% to $68.26 per barrel. Gold rose +0.67% to $2,921 per oz.
Currencies: The US Dollar Index dropped -0.96% to a three-month low of $105.53.
Crypto: Bitcoin rose +1.25% to $87,240. Ethereum rose +1.09% to $2,171.
Volatility: The Volatility Index rose +3.21% to 23.50.
Interest Rates: The US 10-year Treasury yield rose to 4.242%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Charlie Bilello (@charliebilello).
- The Nasdaq 100 ($NDX) filled its post-election gap and successfully tested its 200-day moving average today for the first time since August 5th.
- $NDX hasn't officially broken its 200-DMA since March 2023. At that point, the index was still -28.6% off its 2021 peak. In other words, this entire bull market has taken place above a 200-DMA.
- It's been 496 days since $NDX breached its 200-DMA on a closing basis. Charlie points out this is the second-longest streak in history. The longest one lasted 572 days between 2016 and 2018.
The Takeaway: The Nasdaq 100 tested its 200-day moving average for the first time in six months today. However, it hasn't closed below this long-term moving average in nearly two years.
Top Links
Decision Time - Alfonso's Daily Note
Alfonso De Pablos points out that the Mag 7 ETF ($MAGS) is testing a potential inflection point.
Rotation vs. Distribution - All Star Charts
JC Parets looks at the signs of rotation vs. distribution.
Today's Number is... 2021 - The Daily Number π―
Grant Hawridge breaks down his custom risk-on/risk-off indicator.
Post-Election Years Plague Republicans - Almanac Trader
Jeff Hirsch looks at how stocks have historically performed in the post-election year of a Republican president.
Technical Tuesdays with The Chart Report - X
Here's the recording of our discussion from earlier today. Join us live on X every Tuesday at 11 am.
Quote of the Day
"Where you want to be is always in control, never wishing, always trading, and always, first and foremost protecting your butt."
- Paul Tudor Jones