Daily Chart Report π Friday, January 31, 2025
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Todayβs Summary
Friday, January 31, 2025
Indices: Nasdaq -0.14% | S&P 500 -0.51% | Dow -0.75% | Russell 2000 -0.86%
Sectors: Communications was the only sector that closed higher, gaining +0.40%. Energy lagged, dropping -2.80%.
Commodities: Crude Oil futures fell -0.27% to $72.53 per barrel. Gold fell -0.36% to $2,835 per oz.
Currencies: The US Dollar Index rose +0.29% to $108.50.
Crypto: Bitcoin dropped -2.22% to $102,412. Ethereum rose +1.62% to $3,300
Volatility: The Volatility Index rose +3.73% to 16.42.
Interest Rates: The US 10-year Treasury yield rose to 4.543%.
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 Steve Deppe (@SJD10304).
- The S&P 500 fell -1.0% this week. However, it still closed at all-time highs on a monthly basis, rising +2.7% in January.
- Steve points out that $SPX had a Bullish Outside Reversal Month, meaning January's highs and lows exceeded the prior month's range.
- There have only been eight prior instances since inception, but forward returns have historically been strong. February has been positive 86% of the time, for an average gain of +2.2%, and the next 8-12 months have never closed lower.
The Takeaway: Despite breaking the prior month's low at one point, the S&P 500 closed at all-time highs on a monthly basis, rising +2.7% in January. A Bullish Outside Reversal in January has historically been a positive sign for the rest of the year.
Top Links
Stock Market & Crypto Analysis 1/31/25 - Brian Shannon
Brian Shannon breaks down this week's price action and some key levels to watch next week.
I'm Bullish on China - Alfonso's Daily Note
Alfonso De Pablos examines the technical outlook for China.
Today's Number is... 12 - The Daily Number π―
Grant Hawkridge highlights the recent breadth expansion.
Gold β US Dollar Attempting 14-Year Breakout! - Kimble Charting Solutions
Chris Kimble points out that Gold is breaking out versus the US Dollar Index ($DXY).
Quote of the Day
"Get your facts first, and then you can distort them as you please."
- Mark Twain