Daily Chart Report π Wednesday, March 19, 2025
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Todayβs Summary
Wednesday, March 19, 2025
Indices: Russell 2000 +1.57% | Nasdaq +1.30% | S&P 500 +1.08% | Dow +0.92%
Sectors: 10 of the 11 sectors closed higher. Consumer Discretionary led, rising +1.92%. Consumer Staples lagged, closing unchanged.
Commodities: Crude Oil futures rose +0.24% to $66.91 per barrel. Gold was unchanged at an all-time high of $3,041/oz.
Currencies: The US Dollar Index rose +0.21% to $103.46.
Crypto: Bitcoin rose +5.02% to $86,868. Ethereum gained +6.51% to $2,057.
Volatility: The Volatility Index dropped -8.38% to 19.89.
Interest Rates: The US 10-year Treasury yield dropped to 4.247%.
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 Sam Gatlin (@sam_gatlin).
- Copper futures are testing all-time highs after closing above $5.00 per pound for the first time in nearly a year yesterday.
- Copper corrected -22% last year after a Failed Breakout above $5.00 last May. However, it built a 10-month base during the recovery process.
- That 10-month base represents the 'right shoulder' of a bullish Head & Shoulders Pattern. $5.00 has been a brick wall since 2021, but a decisive breakout could lead to a sustainable uptrend.
The Takeaway: Copper is flirting with all-time highs after building a bullish Head & Shoulders over the past four years. To read more on Copper and other Commodiites, check out Sam's full note here.
Top Links
The Lag 7 - Bespoke
Bespoke examines the weakness in the Magnificent 7 stocks.
Rotation has Gone Global π - The Daily Number
Grant Hawkridge looks at the recent rotation into international markets.
This Market is in a High-Risk Oversold Condition - CNBC
John Kolovos shares his thoughts on the correction in the S&P 500.
Can We Trust the Stock Market Rally? - Capp Thesis
Frank Cappelleri weighs the pros and cons of the current market.
Quote of the Day
"Amateurs think about how much money they can make. Professionals think about how much money they could lose,"
- Jack Schwager