Daily Chart Report π Friday, June 14, 2024
Powered By:
Todayβs Summary
Friday, June 14, 2024
Indices: Nasdaq 100 +0.42% | S&P 500 -0.04% | Dow -0.15% | Russell 2000 -1.61%
Sectors: 4 of the 11 sectors closed higher. Technology led, rising +0.37%. Industrials lagged, falling -1.01%.
Commodities: Crude Oil futures inched lower by -0.22% to $78.45 per barrel. Gold futures rose +1.34% to $2,349 per oz.
Currencies: The US Dollar Index rose +0.26% to $105.52.
Crypto: Bitcoin fell -1.10% to $65,996. Ethereum rose +0.35% to $3,480.
Volatility: The Volatility Index rose +5.86% to 12.65.
Interest Rates: The US 10-year Treasury yield dropped to 4.223%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Todayβs Chart of the Day was shared by Grant Hawkridge (@granthawkridge).
- Grant highlights three themes that define the current market environment. For starters, US Stocks continue to dominate the rest of the world. In fact, this was the best week for US Stocks ($SPY) vs. the rest of the world ($ACWX) since February 2022.
- Secondly, Large Caps have continued to outperform Small Caps by a wide margin. Large-Caps ($SPY) rose +1.64% this week, while Small-Caps ($IWM) fell -1.23%. As a result, the ratio in the middle pane ($SPY/$IWM) closed at its highest level in over two decades.
- Lastly, Growth is trouncing Value again. This has been the best two-week stretch for Growth vs. Value since 2001, with $IWF outperforming $IWD by +8.76%.
The takeaway: US Large Cap Growth reigns supreme. These trends are nothing new, but that's how trends work... they persist.
Quote of the Day
"There is absolutely no doubt in my mind that one of the real keys to winning is learning how to lose."
β Stan Weinstein
Top Links
Stock Market & Crypto Analysis June 14, 2024 - Alphatrends
Brian Shannon breaks down this week's price action and some key levels to watch next week.
June's Quad Witching Options Expiration - A Volatility Haven - Almanac Trader
Jeff Hirsch examines how the second quad-witching week of the year has historically played out.
ETFs & Markets with Todd Sohn: Humans Love Cash - Strategas Asset Management
Todd Sohn highlights several key takeaways from the current market environment.
Commodities: Hunting for an Uncorrelated Trade - All Star Charts
Ian Culley looks at the trends within the Commodities market.
Tech Week - The Weekly Trend Podcast
Ian McMillan and Kevin Firari discuss the most important trends across the markets.