Daily Chart Report 📈 Thursday, February 15, 2024

All-time daily closing high for the NYSE Composite Index. pic.twitter.com/TsKmmUpIG5

— Louis Spector, CMT (@LouisSpectorCMT) February 15, 2024

Final heat map of the S&P 500's $SPY performance from today pic.twitter.com/Pcy3I3XEa1

— Evan (@StockMKTNewz) February 15, 2024

For the first time since August 2022, 10 of the 11 SPDR Sectors beat the $SPX index today. Only megacap $XLK underperformed, yet the index still made its 11th all-time closing high of the year... pic.twitter.com/SJazG8axJR

— Optuma (@Optuma) February 15, 2024

Since 2007, there have been five days with back-to-back >79% upside days following a >90% downside:

- 9/19/2008
- 10/5/2011
- 11/3/2011
- 3/8/2012
- Today pic.twitter.com/gnmX3ejXO1

— FinTwit_Bot (@BotFintwit) February 15, 2024

If small caps breakout, that'll really upset a lot of people. pic.twitter.com/2dwyzHewWD

— Ryan Detrick, CMT (@RyanDetrick) February 15, 2024

$IWM vs $QQQ ... is that a double bottom trying to form? pic.twitter.com/1oj6Y80P67

— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) February 15, 2024

It's been 13 years since the Russell 2000 $IWM completely reversed a 4% drop within 2 sessions.

It struggled over the next few months, then a steady stairstep higher.

Really only 3 distinct time periods - near the ends of bear markets in 2002, 2008, and 2011. pic.twitter.com/GIxF27yE1m

— Jason Goepfert (@jasongoepfert) February 15, 2024

Our Nasdaq Cycle Composite is less bullish than the S&P 500 version this year. The composite trend, which combines the one-, four-, and 10-year cycles, peaks in early March. The combination of excessive optimism and seasonal weakness could leave the composite vulnerable. 1/2 pic.twitter.com/YaHqjL1OR5

— Rob Anderson (@_rob_anderson) February 15, 2024

Basket of stocks with highest price sensitivity to changes in 10y Treasury (tracked by ⁦@GoldmanSachs⁩) has held up well since broader market’s recent October 2023 low
[Past performance is no guarantee of future results] pic.twitter.com/NkFs6oUzRm

— Liz Ann Sonders (@LizAnnSonders) February 15, 2024

$XLE has got my interest. Get WTI above $80 and then this can really start to cook. $USO #technicalanalysis pic.twitter.com/EujPFe3oJi

— John Kolovos, CMT, CFA (@John_Kolovos) February 15, 2024

$CL_F - Crude oil Futures pic.twitter.com/ar61Rvjtke

— Bhagyashree Urdhwareshe, CMT (@sunsofttech) February 15, 2024

$DXY coming into the DTL. First reaction is a rejection. We will see how this plays out in the coming days/weeks... pic.twitter.com/xAqNRlvyHu

— Ian McMillan, CMT (@the_chart_life) February 15, 2024

Japan enters recession $NK_F here lol pic.twitter.com/dDKNBQtion

— Jamie Saettele, CMT (@JamieSaettele) February 15, 2024

When they say "Japan slips into recession" they mean GDP fell during the Q that began 229 days ago and again during the Q that ended 46 days ago

What they don't tell you is Japanese stocks are +15% since the start of the recession and the Nikkei is less than 2% from new ATHs $NK pic.twitter.com/AKSOO9Fn74

— Steven Strazza (@sstrazza) February 15, 2024

This chart shows how off the charts the move in $SMCI has been. It has been wildly overbought all the way up. pic.twitter.com/IvAWawlquK

— Gil Morales - TheOWLTrader.com & VoSI (@gilmoreport) February 16, 2024

I swear with markets it's never what you see on the front page.$SMCI is up 200% from the night $Gold did it's 'world changing dollar ending system imploding' breakout. https://t.co/S6Yurlg6MP pic.twitter.com/JmZ4JUurR6

— Arun S. Chopra CFA CMT🧐 (@FusionptCapital) February 15, 2024