Daily Chart Report π Thursday, October 17, 2024
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Todayβs Summary
Thursday, October 17, 2024
Indices: Dow +0.37% | Nasdaq +0.08% | S&P 500 -0.02% | Russell 2000 -0.25%
Sectors: 4 of the 11 sectors closed higher. Energy led, gaining +0.48%. Utilities lagged, falling -0.89%.
Commodities: Crude Oil futures rose +0.40% to $70.67 per barrel. Gold futures gained +0.60% to an all-time high of $2,708 per oz.
Currencies: The US Dollar Index rose +0.23% to a two-month high of $103.77.
Crypto: Bitcoin fell -0.34% to $67,392. Ethereum inched lower by -0.22% to $2,605.
Volatility: The Volatility Index fell -2.40% to 19.10.
Interest Rates: The US 10-year Treasury yield rose to 4.093%.
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 Larry Tentarelli (@bluechipdaily).
- Gold made a fresh all-time high today, closing above $2,700 per oz. for the first time in history.
- After a three-week pause, the yellow metal has resumed its robust uptrend. Throughout this consolidation, it pulled back -2.6% on a closing basis and -3.3% on an intraday basis.
- Gold is on track for its best year since 2007. It has quietly outperformed stocks, up +30% YTD, while the S&P 500 is +23%.
Takeaway: Gold has resumed its long-term uptrend after breaking out of a three-week consolidation phase today.
Quote of the Day
"Most people overestimate what they can do in one year and underestimate what they can do in ten years."
- Bil Gates
Top Links
Percolating - Trading Adventures
Andy Moss highlights the key takeaways from this week's price action.
The Master Sentiment Chart You Need to Follow - StockCharts
David Keller examines the market's mood.
Trade The Fastest-Moving Stocks with Kenny Glick - Hit the Bid
Kenny Glick and JC Parets discuss day trading using a VWAP trading strategy.
New All-Time S&P 500 Highs β No Need to Fear Until They Cease - Almanac Trader
Jeff Hirsch looks at yearly performance and the frequency of all-time highs.
Top Tweets
Youβre all caught up now. Thanks for reading!
