Daily Chart Report π Thursday, April 11, 2024
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Todayβs Summary
Thursday, April 11, 2024
Indices: Nasdaq +1.65% | S&P 500 +0.74% | Russell 2000 +0.70% | Dow -0.01%
Sectors: 5 of the 11 sectors closed higher. Technology led by a wide margin, gaining +2.00%. Financials lagged, falling -0.71%.
Commodities: Crude Oil futures fell -1.38% to $85.02 per barrel. Gold futures rose to an all-time high of +1.03% to $2,373 per oz.
Currencies: The US Dollar Index inched higher by +0.06% to a four-month high of $105.26.
Crypto: Bitcoin fell -0.87% to $70,015. Ethereum fell -1.21% to $3,503.
Volatility: The Volatility Index dropped -5.63% to 14.92.
Interest Rates: The US 10-year Treasury yield jumped to a four-month high of 4.591%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Todayβs Chart of the Day was shared by Grayson Roze (@GraysonRoze).
- Apple ($AAPL) had its best day in nearly a year today, gaining +4.33%.
- The stock has struggled all year after experiencing a failed breakout in mid-December. It closed at a five-month low yesterday, down -15% from record highs.
- Over the past month, it has been on the verge of a major breakdown, testing crucial support at $167. However, it reversed exactly where it needed to.
The takeaway: The second-largest stock ($AAPL) avoided a major breakdown today by thrusting off support. If $AAPL continues to rebound, the S&P 500 and Nasdaq will likely return to record highs.
Quote of the Day
βThe biggest mistake a fundamental analyst makes is thinking a stock and a company are the same thing.
The biggest mistake a technical analyst makes is thinking they're different.β
Top Links
If Yields Start Moving at a Faster Pace, Stocks Will Suffer, Says Frank Cappelleri - CNBC
Frank Cappelleri shares his thoughts on Stocks, Yields, and the Dollar.
RRG Indicates That non-Mega Cap Technology Stocks Are Improving - StockCharts
Julius de Kempenaer examines the recent rotation within the S&P 500.
Don't Be Afraid - The Irrelevant Investor
Michael Batnick discusses the difficulty of investing at all-time highs.
Morning Show Special: A Conversation with Jack Schwager, Author of Market Wizards - StockMarketTV
In this video, JC Parets and Steve Strazza interview Jack Schwager, author of Market Wizards.
Top Tweets