Daily Chart Report π Friday, October 11, 2024
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Todayβs Summary
Friday, October 11, 2024
Indices: Russell 2000 +2.10% | Dow +0.97% | S&P 500 +0.61% | Nasdaq +0.15%
Sectors: 10 of the 11 sectors closed higher. Financials led, gaining +1.93%. Consumer Discretionary was the only sector that closed lower, falling -0.43%.
Commodities: Crude Oil futures fell -0.38% to $75.56 per barrel. Gold futures gained +1.40% to $2,676 per oz.
Currencies: The US Dollar Index ticked higher by +0.03% to $102.92.
Crypto: Bitcoin is up +3.60% to $62,448. Ethereum is up +2.30% to $2,438.
Volatility: The Volatility Index fell -2.34% to 20.45.
Interest Rates: The US 10-year Treasury yield rose to a two-month high of 4.104%.
Here are the best charts, articles, and ideas shared on the web today!
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Chart of the Day
π Today's Chart of the Day was shared by David Zarling (@AdaptivCharts).
- The Transportation ETF ($IYT) had its best day since November 2022 today, jumping +3.7%. This was its best week since last October, rising +5.7%.
- $IYT also logged its first all-time high in six months today after clearing its 2021 peak, around $70. $IYT fumbled a breakout earlier this year, but after six months of digestion, it looks more prepared.
- Transports are considered a bellwether group, similar to Homebuilders or Semiconductors. While the latter two have led this bull market, Transports have been absent until now.
Takeaway: Transports ($IYT) broke out to an all-time high today after logging their best day in nearly two years. Transports have been a missing ingredient this cycle, but they just showed up to celebrate the bull market's second birthday.
Quote of the Day
"The market is better at predicting the news than the news is at predicting the market.β
β Gerald Loeb
Top Links
Stock Market & Bitcoin Analysis October 11, 2024 - Alphatrends
Brian Shannon analyzes this week's price action and key levels to watch next week.
Press Conference Roulette - The Rotation Report
Aaron Jackson shares his thoughts on recent market developments, including the rebound in China, Interest Rates, and more.
Tech vs Semiconductors: Which One Should You Be Trading? - StockCharts.com
Karl Montevirgen looks at Semiconductors and the broader Tech sector.
Find Breakout Trades During Earnings Season - All Star Charts
JC Parets and Steve Strazza show you how to find options trades with home run potential during the upcoming earnings season.
Top Tweets
Youβre all caught up now. Thanks for reading!
