Daily Chart Report π Thursday, February 1, 2024
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Todayβs Summary
Thursday, February 1, 2024
Indices: Russell 2000 +1.39% | S&P 500 +1.25% | Nasdaq +1.21% | Dow +0.97%
Sectors: 10 of the 11 sectors closed higher. Consumer Staples led gaining +2.04%. Energy lagged, but it barely closed lower (-0.01%).
Commodities: Crude Oil futures dropped -2.68% to $73.82 per barrel. Gold futures rose +0.18% $2,071 per oz.
Currencies: The US Dollar Index dropped -0.43% $103.07.
Crypto: Bitcoin rose +1.21% to $43,071. Ethereum rose +0.95% to $2,303.
Volatility: The Volatility Index fell -3.28% to 13.87.
Interest Rates: The US 10-year Treasury yield dropped to 3.882%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Todayβs Chart of the Day was shared by Sam Gatlin (@sam_gatlin).
- The chart shows the year-to-date performance of the Magnificent 7 stocks plus Eli Lilly ($LLY).
- The Magnificent 7 stocks are starting to go their separate ways. $NVDA was the strongest stock in the S&P 500 last month, while $TSLA was the weakest.
- Eli Lilly ($LLY) surpassed $TSLA in market cap today, making it the new 7th largest stock.
The takeaway: $NVDA is leaving the rest of the Magnificent 7 in the dust, and $LLY is now larger than $TSLA.
Quote of the Day
βYou never get a bubble until the public, the brokerage community, the financial institutions, the pension funds, and even the universities are all involved.β
β Arnold Van Den Berg
Top Links
No Rate Cuts In March β Trading Adventures
Andy Moss reviews the busy week weβve had thus far.
As Goes January, So Goes the Year? The Bulls Hope So. β Carson Group
Ryan Detrick shares his perspective on the January Barometer.
Buyers Lift the Offer for Bonds β All Star Charts
Ian Culley examines what could be next for Treasury bond yields.
Advanced Micro Devices (AMD) Attempting HUGE Fibonacci Breakout! β Kimble Charting Solutions
Chris Kimble break down a long-term chart of Advanced Micro Devices ($AMD).
Top Tweets
Youβre all caught up now. Thanks for reading!