Daily Chart Report π Wednesday, February 21, 2024
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Todayβs Summary
Wednesday, February 21, 2024
Indices: Dow +0.13% | S&P 500 +0.13% | Nasdaq 100 -0.38% | Russell 2000 -0.47%
Sectors: 9 of the 11 sectors closed higher. Energy led, gaining +1.88%. Technology lagged, falling -0.63%.
Commodities: Crude Oil futures rose +1.13% to $77.91 per barrel. Gold futures fell -0.27% to $2,034 per oz.
Currencies: The US Dollar Index inched lower by -0.05% at $104.00.
Crypto: Bitcoin fell -0.83% to $51,843. Ethereum fell -1.57% to $2,968.
Volatility: The Volatility Index fell -0.39% to 15.35.
Interest Rates: The US 10-year Treasury yield rose to 4.319%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Todayβs Chart of the Day was shared by John Kicklighter (@JohnKicklighter).
- Nvidia ($NVDA) surged +9% after-hours in reaction to earnings. It's trading near all-time closing highs again after correcting -8.7% in just four days.
- $NVDA has become the 3rd largest stock in S&P 500 and 4th largest in Nasdaq 100. Both indices closed flat but rallied after-hours by +0.77% and +1.33%, respectively.
- The Nasdaq ($QQQ) violated its rising trendline from the October lows earlier this week. If $NVDA can hold on to its gains tomorrow, $QQQ could get back on track. Reclaiming this broken trendline would be a very bullish.
The takeaway: If $NVDA holds this gain, it will likely pull the Nasdaq ($QQQ) off the ledge.
Quote of the Day
βThe impression has built up that the stock market is the cause of booms and busts. Actually, it is the thermometer -- not the fever.β
β Bernard Baruch
Top Links
Bull Market on Hold - Grindstone Intelligence
Austin Harrison looks at areas of potential strength and weakness within the market.
140-year Old Streategy is Working - All Star Charts
JC Parets examines the divergence between Dow Industrials and Dow Transports.
Nvidiaβs Stock (NVDA) Reaches Key Fibonacci Extension Level! - Kimble Charting Solutions
Chris Kimble points out that Nvidia ($NVDA) is testing the 261.8% Fibonacci extension.
Meta, Amazon, and Netflix: 3 Leading Growth Stocks Testing Gap Support - See it Market
David Keller points out that three Mega-Caps have gapped higher recently.
Top Tweets
Youβre all caught up now. Thanks for reading!