Daily Chart Report π Friday, September 29, 2023
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Todayβs Summary
Friday, September 29, 2023
Indices: Nasdaq 100 +0.08% | S&P 500 -0.27% | Dow -0.47% | Russell 2000 -0.51%
Sectors: 4 of the 11 sectors closed higher. Consumer Discretionary led, rising +0.53%. Energy lagged, dropping -2.02%.
Commodities: Crude Oil futures fell -1.00% to $90.79 per barrel. Gold futures fell -0.67% to a six-month low of $1,866 per oz.
Currencies: The US Dollar Index ticked higher by +0.05% to $106.17.
Crypto: Bitcoin fell -0.51% to $26,889. Ethereum rose +0.85% to $1,667.
Volatility: The Volatility Index rose +0.98% to 17.51.
Interest Rates: The US 10-year Treasury yield was flat at 4.575%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
Todayβs Chart of the Day was shared by Austin Harrison (@meanstoatrend). The US Dollar Index ($DXY) rose +0.54% this week, marking an 11-week winning streak. This is the second-longest weekly winning streak in the history of the US Dollar Index, and it will attempt to tie the record 12-week streak from 2014 next week. While winning streaks are mostly trivial, $DXY also notched its highest weekly close in 10 months. Itβs currently testing the AVWAP from the September β22 peak, but itβs comfortably above $105, which was resistance from the January/March highs. Stock market bulls hope $DXY will find resistance soon, as strength from the Dollar (and yields) was a major headwind for them in Q3.
Quote of the Day
"October. This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February."
β Mark Twain
Top Links
Oversold into October - LPL Financial Research
Adam Turnquist examines the outlook for the S&P 500 as we head into October.
October's First Trading Day Prone to Volatility, But S&P 500 Up 8 of Last 11 - Almanac Trader
Jeff Hirsch looks at how Stocks have historically performed on the first trading day in October.
Stock Market Analysis September 29 2023 Alphatrends Anchored VWAP
Brian Shannon breaks down recent price action and lays out some key levels to watch next week.
Inflows to Bond ETFs on the Rise: Strategas Securitiesβ Todd Sohn - CNBC
In this clip, Todd Sohn of Strategas discusses what ETF flows could suggest about sentiment right now.
Virtual Chart Summit 2023 - StockMarket TV
Catch up on all of the presentations from Chart Summit 2023.