Daily Chart Report π Thursday, March 14, 2024
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Todayβs Summary
Thursday, March 14, 2024
Indices: S&P 500 -0.29% | Nasdaq 100 -0.30% | Dow -0.35% | Russell 2000 -1.96%
Sectors: 2 of the 11 sectors closed higher. Energy led, gaining +1.03%. Real Estate lagged, falling -1.41%.
Commodities: Crude Oil futures rose +1.93% to a four-month high of $81.26 per barrel. Gold futures fell -0.61% to $2,168 per oz.
Currencies: The US Dollar Index rose +0.55% to $103.36.
Crypto: Bitcoin fell -2.39% to $71,371. Ethereum dropped -3.16% to $3,881.
Volatility: The Volatility Index rose +4.73% to 14.39.
Interest Rates: The US 10-year Treasury yield rose to 4.292%.
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).
- $MSFT broke out to an all-time high today, while $AAPL remains in a corrective phase -12.7% from its December peak..
- $AAPL dominated $MSFT after the dot-com bubble for over a decade, but its relative performance peaked in 2012, and itβs been a fair fight ever since. Sam points out that $MSFT is slowly emerging as the winner.
- The ratio ($MSFT/$AAPL) closed at a four-year high today after carving out a potential multi-year bottom.
The takeaway: $MSFT has already surpassed $AAPL as the largest stock in the S&P 500, but its leadership could become even more pronounced if this ratio clears its 2019 peak.
Quote of the Day
βOnce a boom is well started, it cannot be arrested. It can only be collapsed.β
β John Kenneth Galbraith
Top Links
Optimism Persists As Investor Fears Fade - Hi Mount Research
Willie Delwiche shares some insights on investor sentiment.
Inflation Data Higher than Expected - Trading Adventures
Andy Moss looks at recent price action in the major indices.
Growth vs. Value at a Crossroads - All Star Charts
Alfonso Depablos examines the outlook for Growth vs. Value.
Market Emotions and 15th Anniversary of March 09' Low - Strategas Asset Management
Todd Sohn highlights some key takeaways about the current market environment.