Daily Chart Report π Monday, February 3, 2025
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Todayβs Summary
Monday, February 3, 2025
Indices: Dow -0.28% | S&P 500 -0.76% | Nasdaq -0.84% | Russell 2000 -1.28%
Sectors: 6 of the 11 sectors closed higher. Energy led, gaining +0.63%. Technology lagged, falling -1.35%.
Commodities: Crude Oil futures gained +0.87% to $73.16 per barrel. Gold rose +0.78% to $2,857 per oz.
Currencies: The US Dollar Index rose +0.25% to $108.70.
Crypto: Bitcoin gained +3.87% to $101,457. Ethereum rose +0.50% to $2,884
Volatility: The Volatility Index jumped +13.34% to 18.61.
Interest Rates: The US 10-year Treasury yield rose to 4.553%.
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 Peter Brandt (@PeterLBrandt).
- It's been a wild 24 hours in Cryptoland! After tumbling all weekend, Bitcoin found support at $91k this morning before rebounding +11% off its intraday low. It's back above $100k and only -4.2% below a record closing high.
- Despite today's rollercoaster, Bitcoin remains rangebound between $89k ~ $109k. It's been stuck in this messy range for over two months, building pressure for an eventual resolution.
- The height of the range (~$20k) suggests an upside target of $129k and a downside target of $69k. While Bitcoin held up relatively well today, other altcoins suffered severe technical damage.
The Takeaway: Bitcoin was structurally unfazed by today's volatility. It's been rangebound for two months, between $89k and $109k. The longer this range persists, the bigger the implications of a breakout or breakdown.
Top Links
A View from the Floor with Jay Woods, CMT - Freedom Capital Markets
Jay Woods highlights several noteworthy developments to watch this week.
Today's Number is... 2.70% - The Daily Number π―
Grant Hawkridge examines how the S&P 500 has historically performed after a positive January.
European Financials Hit Its Highest Level Since GFC - Alfonso's Daily Note
Alfonso De Pablos highlights the breakout in European Financials.
Semis are Still Under Pressure and There's More to Shakeout, says Renaissance Macro's Jeff deGraaf - CNBC
Jeff deGraaf shares his thoughts on the current market environment.
Forget About Rates - The Rotation Report
Aaron and Dan discuss the noteworthy trends and themes in the market.
Quote of the Day
"If they don't scare you out,
they wear you out."
- Brian Shannon