Daily Chart Report ๐ Monday, March 24, 2025
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Todayโs Summary
Monday, February 24, 2025
Indices: Russell 2000 +2.55% | Nasdaq +2.16% | S&P 500 +1.76% | Dow +1.42%
Sectors: 10 of the 11 sectors closed higher. Consumer Discretionary led, rising +3.46%. The only sector that closed lower was Utilities, falling -0.74%.
Commodities: Crude Oil futures rose +1.22% to $69.11 per barrel. Gold fell -0.19% to $3,016 per oz.
Currencies: The US Dollar Index rose +0.16% to $104.31.
Crypto: Bitcoin rose +1.66% at $87,512. Ethereum rose +3.77% to $2,082.
Volatility: The Volatility Index dropped -9.24% to 17.49.
Interest Rates: The US 10-year Treasury yield rose to 4.338%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Today's Chart of the Day was shared by Michael Nauss (@MichaelNaussCMT).
- The S&P 500 ($SPY) gained +1.8% on Monday after gapping higher and rallying throughout the day.
- It reclaimed its 200-day Moving Average for the first time in two weeks today, but Michael points out that $SPY is testing another critical level at $575.
- $575 coincides with the January Low and the AVWAP from the all-time high (orange). Recapturing the 200-DMA was a big achievement for the bulls, but $575 is arguably more important, as this level has price memory.
The Takeaway: The S&P 500 reclaimed its 200-DMA for the first time in two weeks today, but a more important test lies ahead at $575.
Top Links
Nice Bounce. Now What? - The Strazza Letter
Steve Strazza looks at what today's rally means for the S&P 500.
Stocks Rarely Peak in February and Five Other Things to Know Right Now - Carson Research
Ryan Detrick offers several noteworthy stats to consider for the S&P 500.
A Few Weekend Thoughts About the Market - All Star Charts
JC Parets shares his thoughts on the current market environment.
Stocks in Focus: 3 Stocks to Watch - StockCharts.com
Jay Woods highlights three actionable chart setups.
The Simplest Trend Following System ๐ค - The Daily Number
Grant Hawwkridge backtests the performance of the 10-month moving average.
Quote of the Day
"The way up and the way down are one and the same."
- Heraclitus