Daily Chart Report ☘️ Monday, March 17, 2025
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Today’s Summary
Monday, March 17, 2025
Indices: Russell 2000 +1.19% | Dow+0.85% | S&P 500 +0.64% | Nasdaq +0.55%
Sectors: All 11 sectors closed higher for the second day. Real Estate led, rising +1.76%. Consumer Staples lagged, but still closed higher by +0.16%.
Commodities: Crude Oil futures rose +0.60% to $67.58 per barrel. Gold rose +0.17% to an all-time high of $3,006/oz.
Currencies: The US Dollar Index fell -0.32% to a five-month low of $103.40.
Crypto: Bitcoin is up +1.86% to $84,087. Ethereum is up +2.87% to $1,941.
Volatility: The Volatility Index dropped -5.88% to 20.50.
Interest Rates: The US 10-year Treasury yield inched lower to 4.299%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
🏆 Today's Chart of the Day was shared by Frank Cappelleri (@FrankCappelleri).
- The S&P 500 built upon Friday's reversal today, rising +0.64%. Today marked the first back-to-back gain since the correction began, but the index remains down -7.6% on a closing basis.
- The correction began nearly a month ago when a bullish short-term pattern failed. In healthy uptrends, bullish patterns and breakouts should work, while bearish patterns and breakdowns should fail.
- Frank points out that the most recent bullish pattern has been successful so far. This five-day base is tiny, but Frank notes that successful small patterns build larger bullish patterns.
The Takeaway: Today marked the first back-to-back gain for the S&P 500 since the correction began. A short-term base that formed last week is working so far. However, if this bullish pattern falls apart, it will be a red flag.
Top Links
March Quarterly Options Expiration Week: S&P 500 and NASDAQ Up 12 of Last 17 - Almanac Trader
Jeff Hirsch examines how stocks typically perform around March monthly opex.
America: The Envy of the World - All Star Charts
JC Parets highlights the strength in international markets.
China Takes the Lead - Alfonso's Daily Note
Alfonso De Pablos looks at the rally in China.
The Bears Are Winning - The Strazza Letter
Steve Strazza shares his bear market checklist.
Not CMT Lunch Hour - The Rotation Report
Howard Lindzon and Aaron Jackson discuss the latest trends and themes in the market.
Quote of the Day
“Half of the troubles of this life can be traced to saying yes too quickly and not saying no soon enough.”
- Josh Billings