Daily Chart Report π Monday, October 21, 2024
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Todayβs Summary
Monday, October 21, 2024
Indices: Nasdaq +0.18% | S&P 500 -0.18% | Dow -0.80% | Russell 2000 -1.60%
Sectors: Technology was the only positive sector, gaining +0.47%. Real Estate lagged, falling -2.06%.
Commodities: Crude Oil futures rose +1.97% to $70.04 per barrel. Gold futures rose +0.33% to an all-time high of $2,739 per oz.
Currencies: The US Dollar Index rose +0.48% to a two-month high of $103.96.
Crypto: Bitcoin is down -1.87% to $67,757. Ethereum is down -2.48% to $2,678.
Volatility: The Volatility Index gained +2.00% to 18.38.
Interest Rates: The US 10-year Treasury yield jumped to a two-month high of 4.196%.
Here are the best charts, articles, and ideas shared on the web today!
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Chart of the Day
π Today's Chart of the Day was shared by @TrendSpider.
- Everyone has been fixated on Nvidia ($NVDA) since the stock broke out to record highs two weeks ago. However, the only stock that matters more than $NVDA is also breaking out to record highs.
- $AAPL closed at an all-time high for the first time in three months today. It's resolving higher from a bullish Ascending Triangle pattern, featuring horizontal resistance at $235 and rising trendline support.
- Volatility contracted as $AAPL coiled into this pattern. It will likely expand again once the stock breaks out of this bullish consolidation pattern. The company reports earnings in two weeks on Thursday, October 31.
Takeaway: The largest stock in the market, Apple, inc. ($AAPL), broke out to all-time highs for the first time in three months. The path of least resistance is higher if it's above $235.
Quote of the Day
"Buy that coffee.
Have that ice cream.
And be nice."
- Jon Boorman
Top Links
Zero Red Flags From Credit Spreads is a Good Sign for Today's Market: Ian McMillan - Fox Business News
Ian McMillan shares his thoughts on the current market environment.
Weren't Rates Supposed to Fall? - Bespoke
Bespoke highlights the rebound in the 10-year Treasury yield.
Metals β Bart's Charts
James Bartelloni examines the outlook for Precious Metals.
Octoberphobia? Not Out of the Woods Yet - Almanac Trader
Jeff Hirsch checks in on October seasonality.
No One Watches Cable News Anymore - All Star Charts
JC Parets discusses the value of turning off the news and focusing on price.
Top Tweets
Youβre all caught up now. Thanks for reading!
