Daily Chart Report π Friday, October 25, 2024
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Todayβs Summary
Friday, October 25, 2024
Indices: Nasdaq +0.59% | S&P 500 -0.03% | Russell 2000 -0.49% | Dow -0.61%
Sectors: 3 of the 11 sectors closed higher. Technology led, gaining +0.52%. Utilities lagged, falling -1.48%.
Commodities: Crude Oil futures rose +2.27% to $71.78 per barrel. Gold rose +0.21% to $2,755 per oz.
Currencies: The US Dollar Index rose +0.29% to $104.32.
Crypto: Bitcoin fell -2.31% to $66,578. Ethereum dropped -3.87% to $2,436.
Volatility: The Volatility Index rose +6.65% to 20.32.
Interest Rates: The US 10-year Treasury yield rose to 4.242%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Duality Research (@DualityResearch).
- The S&P 500 snapped a six-week winning streak, falling -0.96% this week. While the index is less than 1% below record highs, bulls have vanished in fear of the election and a big week of corporate earnings.
- The percentage of Bulls in the latest AAII Sentiment Survey fell to a six-month low of 38% this week, down from 49% two weeks ago. Over the same period, Bearish sentiment increased from 21% to 30%.
- The Bull-Bear spread has been positive for 26 weeks now, marking its longest streak since 2015. While the spread remains positive, this sentiment gauge has seen its worst two-week drop in six months.
Takeaway: Bullish sentiment has fallen dramatically over the past two weeks ahead of the election and a big week of corporate earnings. However, the S&P 500 is on track for its best year since 1999; it's less than 1% from record highs, and we're entering a seasonally bullish time of year.
Top Links
Stock Market & Crypto Analysis 10/25/24 - AlphaTrends.net
Brian Shannon breaks down this week's price action and some key levels to watch next week.
The US is Not the Only Stock Market in the World - StockCharts
Julius de Kempenaer examines the strongest and weakest markets around the globe.
S&P 500 Bearish Divergence with Junk Bonds Largest of Year! - Kimble Charting Solutions
Chris Kimble highlights the growing divergence between Junk Bonds and the S&P 500.
Not All Crypto is Created Equal - Bespoke
Bespoke points out that Ethereum continues to lag Bitcoin by a wide margin.
Trick or Treat? - All Star Charts
With Halloween around the corner, Sam Gatlin looks at Sugar, Cocoa, and Hersey's ($HSY).
Quote of the Day
βBelieve nothing you hear,
and only half that you see.β
- Edgar Allen Poe
Top Tweets