Daily Chart Report π Friday, June 30, 2023
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Todayβs Summary
Friday, June 30, 2023
Indices: Nasdaq +1.60% | S&P 500 +1.23% |Dow +0.84% | Russell 2000 +0.38%
Sectors: All 11 sectors closed higher. Technology led, rising +1.59%. Real Estate lagged but still rose +0.51%.
Commodities: Crude Oil futures rose +1.12% to $70.64 per barrel. Gold futures gained +0.60% to $1,929 per oz.
Currencies: The US Dollar Index fell -0.42% to $102.92.
Crypto: Bitcoin was flat and continues to trade at $30,469. Ethereum gained +4.38% to $1,933.
Interest Rates: The US 10-year Treasury yield was unchanged at 3.843%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today's Chart of the Day was shared by Frank Cappelleri (@FrankCappelleri). The S&P 500 closed at new 52-week highs today, scoring a positive close for the week, month, and quarter. With the first half of 2023 in the books, Frank highlights some of the key differences between this year's price action and last year's. For starters, bullish patterns have been working again, while bearish patterns have been failing. Breakouts are finally starting to stick as former resistance levels turn into support. Even the obvious breakout levels (like 4200 & 4300) are being respected. Some of the last year's sharpest declines began as failed breakouts. Frank also points out that we've seen fewer +/-1% days in 2023, and +1% days are outnumbering -1% days. This change in price behavior should bode well for bulls in the back half of the year.
Quote of the Day
"Great things are done by a series of small things brought together."
βVincent van Gogh
Top Links
First Trading Day of July - S&P 500 Up 12 Straight - Almanac Trader
Jeff Hirsch examines how stocks have historically performed on the first trading day in July.
Stock Market Analysis Anchored VWAP June 30 2023 - Alphatrends
Brian Shannon analyzes this week's price action and lays out a few key levels to watch in the near term.
Nobody Knows Anything, 2023 First Half Edition -The Big Picture
Barry Ritholtz shares his thoughts on the first half of the year.
Bull Stampede Back in Action; Any Bears Left? - The Trade Risk
Evan Medeiros looks at some of the key trends and noteworthy moves from the past week.
In Case You Missed it...
Here's a replay of yesterday's live event, where we introduced some of our exclusive new reports and trade ideas, like The Buzz and more!