Daily Chart Report ๐ Monday, March 18, 2024
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Todayโs Summary
Monday, March 18, 2024
Indices: Nasdaq 100 +0.99% | S&P 500 +0.63% | Dow +0.20% | Russell 2000 -0.72%
Sectors: 4 of the 11 sectors closed higher. Communications led, gaining +1.78%. Real Estate lagged, falling -0.69%.
Commodities: Crude Oil futures rose +1.38% to a four-month high of $82.16 per barrel. Gold futures inched higher by +0.13% to $2,164 per oz.
Currencies: The US Dollar Index rose +0.13% to $103.58.
Crypto: Bitcoin fell -1.08% to $67,613. Ethereum dropped -3.35% to $3,520.
Volatility: The Volatility Index fell -0.55% to 14.34.
Interest Rates: The US 10-year Treasury yield rose for the sixth consecutive day to 4.324%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Todayโs Chart of the Day was shared by Linda Raschke (@LindaRaschke).
- The US Dollar Index was a crucial chart in 2022, but little has been said about it since its peak in September 2022.
- Itโs been a trendless mess over the past year, but it could be gearing up for a meaningful move or trend.
- Linda points out that Dollar Index futures have reached an equilibrium point after coiling into a 5-point triangle. In another comment, Linda explained, โSome of the better trends can emerge from equilibrium points.โ
The takeaway: The Dollar Index is coiled up for a meaningful move or trend, and its at a decision point ahead of this weekโs data dump.
Quote of the Day
"Good judgment is the result of experience, and experience is the result of bad judgment."
โ Mark Twain
Top Links
Long-Term Uptrend in Tech is Stable and Will Continue: Technical Analyst Ari Wald - BNN Bloomberg
Ari Wald shares his thoughts on sentiment and Small Caps.
10 Year Bond Yield Testing Key Resistance This Month! - See It Market
Chris Kimble highlights some key levels on the 10-year Treasury yield.
When $SPX Has a 3-day Pullback For the 1st Time in Over 2 Monthsโฆ - Quantifiable Edges
Rob Hanna looks at how the S&P 500 has historically performed after the first three-day losing streak in two months.
Rates Look Set to Rise as TLT Resumes its Downtrend - StockCharts
Arthur Hill examines the outlook for the 20+ Yr Treasury Bond ETF, $TLT.