Daily Chart Report ๐ Friday, February 7, 2025
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Todayโs Summary
Friday, February 7, 2025
Indices: S&P 500 -0.95% | Dow -0.99% | Russell 2000 -1.19% | Nasdaq -1.30%
Sectors: All 11 sectors closed lower. Energy led, closing lower by -0.01%. Consumer Discretionary lagged, dropping -1.96%.
Commodities: Crude Oil futures rose +0.55% to $71.00 per barrel. Gold rose +0.38% to $2,888 per oz.
Currencies: The US Dollar Index rose +0.36% to $108.10.
Crypto: Bitcoin was flat (-0.04%) at $96,535. Ethereum dropped -2.39% to a post-election low of $2,623.
Volatility: The Volatility Index gained +6.84% to 16.55.
Interest Rates: The US 10-year Treasury yield rose to 4.493%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Today's Chart of the Day was shared by @DualityResearch.
- This week was eerily similar to the last. The S&P 500 ($SPX) gapped lower on Monday, rallied throughout the week, and sold off on Friday. However, it only fell -0.2% this week, versus -1.0% last week.
- Since December, $SPX has been in a messy consolidation phase. While the index has stalled over the past two months, the percentage of AAII Bears has risen to 42.9%, marking its highest reading since October 2023.
- Duality also points out that the Equal-Weight Consumer Ratio ($RSPD/$RSPS) has broken out to all-time highs over the past two months.
The Takeaway: While the S&P 500 has been in a choppy consolidation phase over the past two months, sector rotation has been healthy, and bearish sentiment has risen to its highest in over a year.
Top Links
Nasdaq Top, Mag 7 Need a Rest, & Tariffs Keep Investors on Edge - Trade Risk
Evan Medieros breaks down this week's price action and more.
Today's Number is... 250 - The Daily Number ๐ฏ
Grant Hawkridge examines how many components of the S&P 500 are outperforming the index year-to-date.
The Rotation Powering China - Alfonso's Daily Note
Alfonso De Pablos looks at the rebound in China.
Ned Ryerson - The Weekly Trend Podcast
David Zarling and Kevin Firari discuss the noteworthy trends and themes in the market.
One For The Books - The Strazza Letter
Steve Strazza highlights a bank stock that looks ready to run.
Quote of the Day
โThe good life is a process, not a state of being. It is a direction not a destination.โ
- Carl Rogers