Daily Chart Report π Thursday, January 30, 2025
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Todayβs Summary
Thursday, January 30, 2025
Indices: Russell 2000 +1.07% | S&P 500 +0.53% | Nasdaq +0.45% | Dow +0.38%
Sectors: All 11 sectors closed higher. Utilities led, gaining +2.08%. Communications lagged but still rose +0.10%.
Commodities: Crude Oil futures inched higher by +0.15% to $72.73 per barrel. Gold closed at a record high for the first time in three months, jumping +2.72% to $2,845 per oz.
Currencies: The US Dollar Index rose +0.18% to $108.14.
Crypto: Bitcoin is up +1.20% to $104,995. Ethereum is up +4.08% to $3,241
Volatility: The Volatility Index dropped -4.53% to 15.83.
Interest Rates: The US 10-year Treasury yield fell to 4.516%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Ricardo Sarraf (@nullcharts).
- Despite missing earnings estimates last night, Tesla Inc. ($TSLA) gained +2.9% today. It traded lower at one point this morning before reversing higher and closing above $400.
- The stock emerged from a three-year base in December after clearing its 2021 peak at $400. Since then, it has coiled into a Triangle pattern, setting the stage for a significant move or trend in either direction.
- If $TSLA resolves higher from this consolidation pattern, the next upside target is $600, representing the 161.8% Fibonacci extension of the base.
The Takeaway: Tesla ($TSLA) refused to break down today despite missing earnings estimates last night. If the stock continues to respect $400, it could rally +50% to $600 in the coming months.
Top Links
Today's Number is... 808 - The Daily Number π―
Grant Hawridge examines the never-ending drawdown in Russell 2000.
The Key to Stock Market Strength - It's Always the Foundation - CappThesis
Frank Cappelleri breaks down the recent price action and patterns in the market.
Resistance Prevails Again and Price Volatility Continues - Day Hagan Asset Management
Art Huprich looks at the recent price action in stocks and Crude oil.
Mag 7 Earnings Reaction - Stock Market TV
Steve Strazza analyzes the reaction to Mega Cap earnings.
Jeff Hirsch on Presidential Investing Cycles - At The Money
Barry Ritholtz and Jeff Hirsch discuss seasonality and the four-year Presidential Cycle.
Quote of the Day
βThe men on the trading floor may not have been to school,
but they have Ph.Dβs in manβs ignorance.β
- Michael Lewis