Daily Chart Report π Wednesday, January 29, 2025
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Todayβs Summary
Wednesday, January 29, 2025
Indices: Nasdaq -0.24% | Russell 2000 -0.25% | Dow -0.31% | S&P 500 -0.47%
Sectors: 4 of the 11 sectors closed higher. Communications led, gaining +0.44%. Real Estate lagged, falling -1.16%.
Commodities: Crude Oil futures fell -1.56% to $72.62 per barrel. Gold inched higher by +0.08% to $2,770 per oz.
Currencies: The US Dollar Index inched higher by +0.03% to $107.94.
Crypto: Bitcoin is up +2.19% to $101,507. Ethereum is up +2.22% to $3,145.
Volatility: The Volatility Index rose +0.79% to 16.55.
Interest Rates: The US 10-year Treasury yield was flat at 4.532%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Mark Ungewitter (@mark_ungewitter).
- Mark points out that long-term treasury bonds ($TLT) have formed a potential Head & Shoulders Bottom over the past month.
- The neckline of this bullish reversal pattern is around $88 (red). Clearing this level would allow for a meaningful rebound.
- Ironically, Bonds topped in September after the Fed cut rates, and they could potentially bottom here around today's meeting.
The Takeaway: Bonds ($TLT) have carved out a potential bottom over the past month.
Top Links
Today's Number is 22... - The Daily Number π―
Grant Hawkridge analyzes the internal health of the S&P 500.
What to Expect After Nvidia's Major Market Cap Tumble - Schaeffer's Investment Research
Rocky White examines what could be next for Nvidia ($NVDA) after shedding a half-trillion dollars in market cap on Monday.
Portfolio Accelerator Day 1 - Alfonso's Daily Note
Alphonso De Pablos summarizes the presentations at this week's Portfolio Accelerator event in NYC.
Year of the Snake? More Like Year of the Bear - Carson Research
Ryan Detrick breaks down how the S&P 500 has historically performed in the year of the snake.
Quote of the Day
βWhy do we have two eyes and one mouth...? Because God knew that looking at charts was twice as important as talking about fundamentals."
- Paul Ciana