Daily Chart Report πŸ“ˆ Tuesday, March 11, 2025

March 11, 2025
Patrick Dunuwila

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Today’s Summary

Tuesday, March 11, 2025


 

Indices: Russell 2000 +0.22% | Nasdaq -0.28% | S&P 500 -0.76% | Dow -1.14%

Sectors: All of the 11 sectors closed lower. Tech led, but still fell -0.41%. Industrials lagged, dropping -1.54%.  

Commodities: Crude Oil futures rose +0.33% to $66.25 per barrel. Gold rose +0.74% to $2,921 per oz. 
 
Currencies: The US Dollar Index fell -0.47% to a four-month low of $103.42

Crypto: Bitcoin rose +5.48% to $82,869. Ethereum rose +3.16% to $1,923.

Volatility: The Volatility Index fell -3.38% to 26.91.

Interest Rates: The US 10-year Treasury yield rose to 4.284%.




Here are the best charts, articles, and ideas shared on the web today!
 


Chart of the Day 

 
πŸ† Today's Chart of the Day was shared by Duality Research (@DualityResearch). 
 

  • Duality points out that the S&P 500 ($SPY), Equal-Weight S&P 500 ($RSP), and Magnificent 7 ($MAGS) are simultaneously testing the same Fibonacci retracement levels. 
     
  • All three ETFs have retraced 61.8% of their advance off the August low. These retracement levels are approximately $556 for $SPY, $172 for $RSP, and $46.50 for $MAGS. 
     
  • After respective drawdowns of -9.3%, -8.4%, and -20.5%, these levels are a natural spot for a bounce. However, if they break, it will open the gates to the August lows. 


The Takeaway: Three major ETFs ($SPY, $RSP, and $MAGS) are simultaneously testing their 61.8% retracements. If these potential support levels break, it will target the August lows. 

 

Top Links

A Key Level has Been Broken - The Daily Number πŸ’― 
Grant Hawkridge examines a key level in the S&P 500... 5,667. 

March Madness - Carson Research
Ryan Detrick puts the recent correction into perspective. 

Things You Don’t See in a Bull Market - Alfonso's Daily Note
Alfonso De Pablos highlights the relative strength of Consumer Staples. 

4th Worst Post Inaugural S&P 500 Performance since WWII - Almanac Trader
Jeff Hirsch looks at how the post-inaugural performance compares to history. 

Equity Markets Grapple with Tariffs - LPL FInancial Research
Adam Turnquist assesses the damage caused by the recent decline.


 

 


Quote of the Day


β€œNot losing big is the single most important factor for winning big. As a speculator, losing is not a choice, but how much you lose is.”
 

- Mark Minervini

 

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