Daily Chart Report 📈 Tuesday, April 2, 2024

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Today’s Summary
Tuesday, April 2, 2024

Indices: S&P 500 -0.72% | Nasdaq 100 -0.94% | Dow -1.00% | Russell 2000 -1.80%

Sectors: 2 of the 11 sectors closed higher. Energy led by a notable margin, gaining +1.40%. Health Care lagged, falling -1.56%.

Commodities: Crude Oil futures rose +1.72% to a five-month high of $85.15 per barrel. Gold futures rose for the sixth day, gaining +1.09% to an all-time high of $2,282 per oz.

Currencies: The US Dollar Index fell -0.20% to $104.75.

Crypto: Bitcoin dropped -6.07% to $65,469. Ethereum dropped -6.46% to $3,279.

Volatility: The Volatility Index rose +6.88% to 14.60.

Interest Rates: The US 10-year Treasury yield rose to a four-month high of 4.353%.

Here are the best charts, articles, and ideas shared on the web today!

Chart of the Day 

Another way to visualize the cycle is to show it as a clock. If 12:00 is the start of the cycle, compared to the longest cycles in history, it’s only around 3 pm right now. Based on the average cycle, it’s 6 pm. Time is still on our side. /END pic.twitter.com/kSREs3YXHU

— Jurrien Timmer (@TimmerFidelity) April 2, 2024

Today’s Chart of the Day was shared in a thread by Jurrien Timmer (@TimmerFidelity).

• The S&P 500 has been in a bull market for 17 months, gaining +45%.

• The median bull market lasts 30 months and gains +90%.

• Jurrien shows the data as if it were a clock, pointing out that it’s 6 pm based on the average cycle and 3 pm compared to the longest cycles.

The takeaway: We’re about halfway through a “typical” bull market cycle. This bull could run for another year before it’s considered old.

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You’re all caught up now. Thanks for reading!