Daily Chart Report πŸ“ˆ Monday, April 15, 2024

Patrick Dunuwila
April 15, 2024

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Today’s Summary
Monday, April 15, 2024

Indices: Dow -0.65% | S&P 500 -1.20% | Russell 2000 -1.37% | Nasdaq 100 -1.65%

Sectors: All 11 sectors closed lower. Health Care led but still fell -0.20%. Technology lagged, dropping -1.90%.

Commodities: Crude Oil futures fell -0.29% to  $85.41 per barrel. Gold futures rose +0.37% to an all-time high of $2,383 per oz.

Currencies: The US Dollar Index rose +0.16% to a five-month high of $106.18.

Crypto: Bitcoin dropped -3.80% to $63,255. Ethereum fell -1.88% to $3,100.

Volatility: The Volatility Index gained +11.10% to a five-month high of 19.22.

Interest Rates: The US 10-year Treasury yield rose to a five-month high of 4.606%.

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

Chart of the Day

πŸ† Today’s Chart of the Day was shared by Alfonso Depablos (@AlfCharts).

  • Breadth looked healthy a few weeks ago, but it’s taken a turn for the worse. The Equal-Weight S&P 500 ($RSP) is coming off its worst week since September (-2.56%), falling another β€œWealth is the ability to fully experience life.” today.
  • Alfonso points out that $RSP is at risk of a failed breakout after closing below the prior cycle highs today. Failed breakouts can get ugly quickly. As they say, β€œFrom failed moves come fast moves in the opposite direction.”
  • The S&P 500 is still comfortably above its respective breakout level, but Equal-Weight has downside risk if $RSP is below $160.

The takeaway: The market is vulnerable to broad-based weakness if $RSP fails to recapture its former highs in the coming days.

Quote of the Day

β€œWealth is the ability to fully experience life.”

– Henry David Thoreau

Top Links

What Happened Last Week? - Jotting on Charts
Grant Hawkridge highlights some key takeaways from last week's price action.

Tax Day Sell Off - Trading Adventures - Trading Adventures
Andy Moss assesses the latest technical damage in the market.

Fill The Gap Episode Thirty-Seven with Robert J. Farrell and Walter Deemer - CMT Association
Two highly respected technicians - Bob Farrell and Walter Deemer, discuss the evolution of Technical Analysis over the decades.

Big Mac Inflation Is Real - All Star Charts
JC Parets examines what the market is saying about inflation.

Will Gold's 12-Year Cycle Send It Much Higher? - Kimble Charting Solutions
Chris Kimble looks at a 12-year cycle in Gold prices.

Top Tweets

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

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