Daily Chart Report π Tuesday, June 11, 2024
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Todayβs Summary
Tuesday, June 11, 2024
Indices: Nasdaq 100 +0.71% | S&P 500 +0.27% | Russell 2000 -0.31% | Dow -0.36%
Sectors: 2 of the 11 sectors closed higher. Technology led, rising +1.86%. Financials lagged, falling -1.14%.
Commodities: Crude Oil futures rose +0.21% to $77.90 per barrel. Gold futures were flat at $2,326 per oz.
Currencies: The US Dollar Index rose +0.15% to $105.26.
Crypto: Bitcoin fell -3.16% to $67,306. Ethereum dropped -4.60% to $3,497.
Volatility: The Volatility Index gained +0.86% to 12.86.
Interest Rates: The US 10-year Treasury yield dropped to 4.406%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Todayβs Chart of the Day was shared by Brian Lund (@bclund).
- Apple ($AAPL) violently broke out to an all-time high today. The stock had its best day since November 2022, surging +7.26% on high volume. It closed firmly above $200 for the first time.
- In less than a year, $AAPL has gone from being the largest stock in the S&P 500 to the third-largest after being surpassed by Microsoft ($MSFT) and Nvidia ($NVDA). However, $AAPL single-handedly kept the S&P 500 in positive territory today.
- $AAPL hasnβt participated in the bull market over the past year. Itβs been rangebound, but itβs finally resolving higher. Seasonality is also bullish, considering $AAPL has a perfect track record in July over the past eight years, boasting an impressive average gain of +8.23%.
The takeaway: The third-largest stock, Apple Inc. ($AAPL), broke out to all-time highs today. It has made ZERO progress over the past year, but it looks ready to resume its primary uptrend.
Quote of the Day
βThe world is changed by your example, not by your opinion.β
β Paulo Coelho
Top Links
Dow Negative Rolling 4-Month Returns - All Star Charts
JC Parets examines the lack of broad participation within the major indices.
The S&P 500's Setup - CappThesis
Frank Cappelleri breaks down the recent price action in the S&P 500.
It Could Be Time to Start Buying the Dip on Treasury Yields - Yahoo Finance
Paul Ciana shares his technical outlook on Treasury yields.
Alibaba Returns to the Scene of the Crime - StockCharts
Arthur Hill looks at Chinese stocks and Alibaba ($BABA).
I'm Not Saying Things Aren't Crazy - The Irrelevant Investor
Michael Batnick highlights the differences between the dot-com bubble and today's market environment.
Top Tweets