Daily Chart Report π Monday, December 30, 2024
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Todayβs Summary
Monday, December 30, 2024
Indices: Russell 2000 -0.75% | Dow -0.97% | S&P 500 -1.07% | Nasdaq 100 -1.28%
Sectors: All 11 sectors closed lower. Energy was unchanged (-0.01%). Consumer Discretionary lagged, falling -1.61%.
Commodities: Crude Oil futures rose +0.78% to $71.15 per barrel. Gold fell -0.45% to $2,620 per oz.
Currencies: The US Dollar Index ticked higher by +0.06% to $108.08.
Crypto: Bitcoin fell -0.99% to $92,628. Ethereum inched higher by +0.16% to $3,356.
Volatility: The Volatility Index jumped +9.22% to 17.41.
Interest Rates: The US 10-year Treasury yield rose to a six-month high of 4.535%.
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 Yuriy Matso (@yuriymatso).
- Over the past two weeks, Nasdaq 100 futures have coiled into a tight Triangle pattern, setting the stage for a meaningful resolution in either direction as we enter the new year.
- Clearing 22,222 would confirm a breakout while violating 21,000 would confirm a breakdown. Either way, the Nasdaq is nearing a decision point.
- Consolidation patterns typically resolve in the direction of the underlying trend, which, in this case, is higher. However, when they don't, it often indicates trend exhaustion.
The Takeaway: The Nasdaq 100 is coiled up for a big New Year's resolution.
Top Links
The Most Important Chart for 2025 - Alfonso's Daily Note
Alfonso De Pablos highlights the Technology sector and Semiconductors.
Last Trading Day of the Year Lacks Holiday Cheer - Almanac Trader
Jeff Hirsch examines how the major indices have historically performed on the last trading day of the year.
Israel Beats U.S. in 2024 - All Star Charts
JC Parets points out that Israel and China quietly outperformed the S&P 500 this year.
Concentration - Bespoke
Bespoke looks at the growing concentration risk in the S&P 500.
Quote of the Day
"Formal education will make you a living;
self-education will make you a fortune."
- Jim Rohn
Top Tweets