Back to the Scene of the Crime π The Daily Chart Report
Powered By:
Todayβs Summary
Thursday, April 24, 2025
Indices: Nasdaq +2.79% | S&P 500 +2.03% | Russell 2000 +2.00% | Dow +1.23%
Sectors: 10 of the 11 sectors closed higher. Technology led, rising +3.73%. Consumer Staples was the only sector that closed lower, falling -0.88%.
Commodities: Crude Oil rose +0.84% to $62.79 per barrel. Gold rose +1.65% to $3,350 per oz.
Currencies: The US Dollar Index dropped -0.49% to $99.29
Crypto: Bitcoin is currently down -0.31% to $93,439. Ethereum is down -2.00% at $1,760.
Volatility: The Volatility Index dropped -6.96% to 26.46.
Interest Rates: The US 10-year Treasury yield fell to 4.315%.
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 Grayson Roze (@GraysonRoze).
- The S&P 500 has reached a fork in the road after recovering roughly half its decline. It has bounced +10% from its closing low, but remains slightly more than -10% off its February peak.
- Grayson points out that 5,500 is a significant level for several reasons. This level acted as support twice in March. However, it turned into resistance three weeks ago when $SPX gapped lower after Liberation Day.
- If $SPX clears 5,500, the next task becomes recapturing the 200-day moving average, which is currently near 5,750. On the other hand, further rejection at this level would be a bearish sign.
The Takeaway: The S&P 500 is testing a potential inflection point around 5,500. Clearing this hurdle would be bullish, but failure to do so would be bearish.
Quote of the Day
"Stocks are the only thing that people are happy to buy when the price goes up."
- Warren Buffett
Top Links
All Eyes on the Pinch - Alphonso's Daily Note
Alphonso De Pablos points out that the S&P 500 is pinched between two notable AVWAPS.
Decoding the Bear Market: Frank Cappelleri's Technical Insights with Jeffrey Hirsch - CrossCheckMedia
Jeff Hirsch and Frank Cappelleri discuss the recent volatility in the markets.
Most Stocks are in Downtrends β€΅οΈ - The Daily Number
Grant Hawkridge looks at the percentage of stocks above their 50 and 200-day moving averages.
What to Know 2-Months Since the S&P 500 Peak - Streategas Asset Management
Todd Sohn shares a few key takeaways from recent fund flows.
Perspective on Peak Uncertainty and Market Lows - LPL Financial Research
Adam Turnquist looks at the relationship between economic uncertainty and volatility.