Daily Chart Report π Tuesday, October 22, 2024
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Todayβs Summary
Tuesday, October 22, 2024
Indices: Nasdaq +0.11% | Dow -0.02% | S&P 500 -0.05% | Russell 2000 -0.37%
Sectors: 4 of the 11 sectors closed higher. Consumer Staples led, gaining +0.56%. Industrials lagged, falling -1.21%.
Commodities: Crude Oil futures rose +2.43% to $71.74 per barrel. Gold futures rose +0.76% to an all-time high of $2,760 per oz.
Currencies: The US Dollar Index rose +0.10% to a two-month high of $104.06.
Crypto: Bitcoin was unchanged at $67,382. Ethereum fell -1.67% to $2,620.
Volatility: The Volatility Index fell -0.92% to 18.21.
Interest Rates: The US 10-year Treasury yield inched higher to 4.210%.
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 @TheDonInvesting.
- Donovan points out that the Russell 2000 has formed a potential Failed Breakout, putting Small Caps at risk of further downside in the near term.
- It broke out to multi-year highs on Wednesday after clearing resistance from the July peak. However, it has fallen every day since then, closing firmly below resistance today.
- Price has been rejected at this level several times over the past three months, although each rejection has been followed by a higher low.
Takeaway: The Russell 2000 has formed a potential Failed Breakout. The index is vulnerable to further downside unless it reclaims its July peak.
Quote of the Day
βIf you want a guarantee, buy a toaster.β
- Clint Eastwood
Top Links
Yields Keep on Truckin' - Bespoke
Bespoke points out that breadth was very poor yesterday.
CHART THIS: Check Out Which Stocks Were Crushed Post-Earnings! - David Keller
David Keller breaks down the recent price action in the market and some key areas to watch this earnings season.
More Treasury Bonds Selling Ahead? Watch the Japanese Yen! - See It Market
Chris Kimble looks at the relationship between Treasury Bonds and the Japanese yen.
Only 3 Of The 7 Mag Stocks Are Worth Owning Right Now - StockCharts.com
Tom Bowley looks at the best and worst Mega Cap stocks.
Top Tweets
Youβre all caught up now. Thanks for reading!
