Daily Chart Report ๐ Monday, August 26, 2024
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Todayโs Summary
Monday, August 26, 2024
Indices: Dow +0.16% | Russell 2000 -0.04% | S&P 500 -0.32%| Nasdaq -1.04%
Sectors: 6 of the 11 sectors closed higher. Energy led, gaining +0.90%. Tech lagged, falling -1.25%.
Commodities: Crude Oil futures gained +3.46% to $77.42 per barrel. Gold futures rose +0.35% to an all-time high of $2,555 per oz.
Currencies: The US Dollar Index bounced +0.18%to $100.86.
Crypto: Bitcoin fell -2.19%to $62,852. Ethereum fell -2.43% to $2,681.
Volatility: The Volatility Index gained +1.83% to 16.14.
Interest Rates: The US 10-year Treasury yield rose to 3.818%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Todayโs Chart of the Day was Shane Murphy (@murphycharts).
- The Dow Jones Industrial Average booked an all-time high today for the first time since mid-July. It only rose +0.16%, but that was notably better than the Nasdaq, which dropped -1.04%.
- It peaked on July 18th before correcting -6.1% on a closing basis and -7.0% on an intraday basis.
- The Dow was the first major index to recover to all-time highs after the bear market, and it has also been the first to recover from the recent correction.
Takeaway: Today, the Dow reached all-time highs for the first time since mid-July. It wasnโt a very convincing breakout, so further confirmation is necessary, but itโs the first index to recover from the recent correction.
Quote of the Day
โThe world is a tragedy to those who feel, but a comedy to those who think.โ
โ Horace Walpole
Top Links
A View from the Floor with Jay Woods, CMT โ Freedom Capital Markets
Jay Woods highlights several key areas to watch this week.
We Call That Bull Market Breadth โ All Star Charts
JC Parets looks at the recent breadth improvement.
Market Navigator: Playing Big Pharma and Eli Lilly โ CNBC
Katie Stockton shares her technical perspective on Health Care and Pharmaceutical stocks.
Stronger than Youโd Think โ The Weekly Trend Podcast
David Zarling and Ian McMillan discuss the notable trends and themes across the market.
Top Tweets
Youโre all caught up now. Thanks for reading!