Daily Chart Report π Thursday, February 15, 2024
Powered By:
Todayβs Summary
Thursday, February 15, 2024
Indices: Russell 2000 +2.45% | Dow +0.91% | S&P 500 +0.58% | Nasdaq +0.21%
Sectors: 10 of the 11 sectors closed higher. Energy led, gaining +2.79%.Tecnology lagged, falling -0.21%.
Commodities: Crude Oil futures rose +1.24% to $77.59 per barrel. Gold futures gained +0.53% $2,015 per oz.
Currencies: The US Dollar Index dropped -0.41% to $104.28.
Crypto: Bitcoin inched higher by +0.19% to $51,942. Ethereum rose +1.73% to a new 52-week high of $2,826.
Volatility: The Volatility Index fell -2.71% to 14.00.
Interest Rates: The US 10-year Treasury yield fell to 4.236%.
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 Louis Spector (@EastCoastCharts).
- The NYSE Composite closed at an all-time high today for the first time since January 12th, 2022.
- This index contains over 2000 stocks, providing a much broader representation of "the stock market" compared to popular benchmarks like the Dow, S&P 500, or Nasdaq 100.
- It's emerging from a two-year base within a primary uptrend after recovering from a -22.4% drawdown.
The takeaway: Another important index has joined the all-time high club, only this one is much broader than the others. The path of least resistance is higher for the NYSE Composite if it can hold this breakout above 17,300.
Quote of the Day
βCharts donβt give answers, they raise questions. Inferences are drawn when enough questions point in the same direction.β
β Mark Ungewitter
Top Links
DJIA Up 11 of Last 13 Before Presidents' Day Weekend - Almanac Trader
Jeff Hirsch looks at how stocks have historically performed on the Friday before Presidents' Day weekend.
Sturdy Sentiment - Bespoke
Bespoke breaks down the latest sentiment numbers.
ETFs & Markets with Todd Sohn: A Look at βThe Benchβ for Equity Markets - Strategas Asset Management
Todd Sohn shares his thoughts on market internals, Chinese equities, and more.
Interest Rates and Potential Impact on Equities - LPL Financial Research
Adam Turnquist examines the outlook for the 10-year Treasury yield.