Daily Chart Report ๐ Wednesday, February 5, 2025
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Todayโs Summary
Wednesday, February 5, 2025
Indices: Russell 2000 +1.14% | Dow +0.71% | Nasdaq +0.42% | S&P 500 +0.39%
Sectors: 8 of the 11 sectors closed higher. Real Estate led, gaining +1.57%. Consumer Discretionary lagged, falling -1.13%.
Commodities: Crude Oil futures dropped -2.30% to $70.96 per barrel. Gold rose +0.60% to $2,893 per oz.
Currencies: The US Dollar Index fell -0.35% to $107.62.
Crypto: Bitcoin fell -1.20% to $96,614. Ethereum rose +2.06% to $2,788
Volatility: The Volatility Index dropped -8.26% to 15.78.
Interest Rates: The US 10-year Treasury yield dropped to 4.424%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Today's Chart of the Day was shared by Larry Thompson (@HostileCharts).
- Health Care ($XLV) was the second-worst-performing sector last year. However, it's currently the best-performing sector in the new year, rising +7.9% YTD.
- Larry points out that $XLV is testing a potential inflection point at $148. This level acted as resistance several times last year. It coincides with the 200-day moving average.
- The relative trend ($XLV/$SPY) has also improved. It's curling higher and carving out a small base after emerging from a multi-month downtrend line a few weeks ago.
The Takeaway: Health Care( $XLV) is leading YTD and testing a potential inflection point after being one of the worst sectors last year.
Top Links
Why Volatility is GOOD for Bullish Chart Patterns - Capp Thesis
Frank Cappelleri explains why bulls should welcome volatility in the near term.
US Dollar Sell The News - All Star Charts
JC Parets examines the recent reversal in the US Dollar.
Big Support Level in BTC - The Strazza Letter
Steve Strazza looks at what could be next for several popular Cryptocurrencies.
CAD/USD at a Tipping Point - Alfono's Daily Note
Alfonso De Pablos highlights the action in the Canadian Dollar and what it could mean for Commodities.
Welcome to the Worst Month of the Year in a Post-Election Year (and Why American Doesnโt Want the Eagles to Win) - Carson Research
Ryan Detrick drops several noteworthy stats to consider.
Quote of the Day
โIn all chaos there is a cosmos,
in all disorder a secret order.โ
- Carl Jung