Daily Chart Report π Thursday, March 28, 2024
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Todayβs Summary
Thursday, March 28, 2024
Indices: Russell 2000 +0.48% | Dow +0.12% | S&P 500 +0.11% | Nasdaq 100 -0.14%
Sectors: 8 of the 11 sectors closed higher. Energy led, gaining +1.08%. Consumer Discretionary lagged, falling -0.31%.
Commodities: Crude Oil futures rose +2.24% to $83.17 per barrel. Gold futures rose +1.16% to an all-time high of $2,238 per oz.
Currencies: The US Dollar Index rose +0.23% to $104.54.
Crypto: Bitcoin rose +1.99% to $70,803. Ethereum gained +1.78% to $3,561.
Volatility: The Volatility Index rose +1.80% to 13.00.
Interest Rates: The US 10-year Treasury yield rose to 4.206%.
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 Grant Hawkridge (@granthawkridge).
- The S&P 500 closed at a record high today, concluding a positive week, month, and quarter.
- As of today, 86% of S&P 500 stocks are above their 200-day moving averages, marking the first weekly close above 80% since August 2021.
- Grant points out that when breadth returns to healthy levels ( >80%) after a washout, it often stays elevated for several months or even years before deteriorating.
The takeaway: The S&P 500 survived on narrow breadth, but it could thrive now that more stocks are participating.
Quote of the Day
βWhen you analyze happiness, it turns out that the way you spend your time is extremely important.β
β Daniel Kahneman
Top Links
Here Comes the Usually Bullish Month of April - Carson Group
Ryan Detrick examines how stocks have historically performed in April.
Can the Spring Melt Up Continue - LPL Financial Research
Adam Turnquist looks at what could be next for the S&P 500 after a five-month winning streak.
Materials Break Out - All Star Charts
Alphonso Depablos highlights the Materials sector.
Stock Market Video Analysis for Week Ending March 28, 2024 - Alphatrends
Brian Shannon breaks down this week's price action and key levels to watch next week.
Fed Rate Pause Reaches 8-Months, Whatβs Next? - Strategas Asset Management
Todd Sohn shares some key insights about the current market environment.
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