Daily Chart Report π Thursday, October 31, 2024
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Todayβs Summary
Thursday, October 31, 2024
Indices: Dow -0.90% | Russell 2000 -1.63% | S&P 500 -1.86% | Nasdaq -2.44%
Sectors: 2 of the 11 sectors closed higher. Utilities led, gaining +1.04%. Technology lagged, dropping -3.21%.
Commodities: Crude Oil futures rose +0.95% to $69.26 per barrel. Gold dropped -1.84% to $2,749 per oz.
Currencies: The US Dollar Index fell -0.20% to $103.89.
Crypto: Bitcoin fell -2.54% to $70,492. Ethereum dropped -5.11% to $2,522.
Volatility: The Volatility Index jumped +13.82% to 23.15.
Interest Rates: The US 10-year Treasury yield fell to 4.286%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by @Optuma.
The S&P 500 dropped -1.86% today, marking its first -1% decline in nearly two months.
October would've closed positive if not for today's sell-off. The month closed lower by -0.99%, snapping a five-month winning streak.
- Despite today's decline, Optuma points out that the S&P 500 is on track for its best election year ever, gaining +19.6% YTD. The best full election year was 1980, which gained +25% by year-end.
The Takeaway: Despite today's sell-off, the S&P 500 is still up +19.6% YTD, putting it on track for the best election year in history.
Top Links
Will Bearish Pattern Take Semiconductors (and the Stock Market) Lower? - Kimble Charting Solutions
Chris Kimble highlights a potential Head & Shoulders Top forming in the Semiconductor ETF ($SMH).
Novemberβs First Trading Day: DJIA, S&P 500 and NASDAQ Up 9 of Last 12 - Almanac Trader
Jeff Hirsch examines how the major averages have historically performed on November's first trading day.
Spooky Volatility Brews as Seasonality Improves - LPL Financial Research
Adam Turnquist looks at what could be next for the Volatility index.
The Real Trend: 12 Months of Chart Pattern Breakouts - CappThesis
Frank Cappelleri breaks down the recent patterns and price action in the S&P 500.
Quote of the Day
"I'm not superstitious,
but I am a little stitious."
- Michael Scott
Top Tweets