Daily Chart Report π Tuesday, July 25, 2023
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Todayβs Summary
Tuesday, July 25, 2023
Indices: Nasdaq 100 +0.73% | S&P 500 +0.28% | Dow +0.08% | Russell 2000 +0.02%
Sectors: 5 of the 11 sectors closed higher. Materials led, gaining +1.80%. Real Estate lagged, falling -0.74%.
Commodities: Crude Oil futures rose +1.13% to a fresh three-month high of $79.63 per barrel. Gold futures ticked higher by just +0.08% to $1,964 per oz.
Currencies: The US Dollar Index snapped a five-day winning streak, inching lower by just -0.08% to $101.30.
Crypto: Bitcoin inched higher by +0.16% to $29,224. Ethereum rose +0.43% to $1,858.
Interest Rates: The US 10-year Treasury yield inched higher to 3.888%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
Today's Chart of the Day was shared by Rob Anderson (@_rob_anderson). The Energy Sector ($XLE) closed at three-month highs today and flipped into positive territory YTD. It's been lagging all year, despite leading by a wide margin in 2022. Rob points out it would make sense to see Energy outperform in the coming months as the sector tests a key level relative to the S&P 500. Energy outperformed for nearly a decade off of this level in the early 2000s. The ratio broke down during the pandemic when the global economy shut down and Crude Oil freakishly went negative. However, the pandemic could be one giant failed breakdown for this ratio. You know what they say about failed breakdowns... "from failed moves come fast moves in the opposite direction!"
Quote of the Day
"We are choked with news
and starved of history."
β Will Durant
Top Links
August Can Be Challenging in Pre-Election Years - Almanac Trader
Jeff Hirsch examines how stocks have historically performed in August.
Which Sector Will Lead in the Second Half? - Grindstone Intelligence
Austin Harrison looks at Energy vs. Technology to see which sector is the better bet in the second half of 2023.
Ol' King Dollar Bounces Back - All Star Charts
Ian Culley points out that the US Dollar Index ($DXY) is retesting its recent breakdown.
S&P 500 Gets Back In Gear With The Median Stock - Hi Mount Research
Willie Delwiche looks at how the S&P 500 has performed compared to its Median stock.
Charts, Charts, and more Charts! - The Morning Show
We joined The Morning Show earlier today to discuss some of the key charts and themes across the markets.
Top Tweets