Daily Chart Report ๐ Monday, February 10, 2025
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Todayโs Summary
Monday, February 10, 2025
Indices: Nasdaq +1.24% | S&P 500 +0.67% | Dow +0.38% | Russell 2000 +0.36%
Sectors: 9 of the 11 sectors closed higher. Energy led, rising +2.20%. Financials lagged, dropping -0.79%.
Commodities: Crude Oil futures rose +1.86% to $72.32 per barrel. Gold rose +1.62% to an all-time high of $2,934 per oz.
Currencies: The US Dollar Index gained +0.22% to $108.33.
Crypto: Bitcoin rose +1.03% to $97,469. Ethereum rose +1.29% to $2,662.
Volatility: The Volatility Index dropped -4.53% to 15.80.
Interest Rates: The US 10-year Treasury yield rose to 4.501%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
๐ Today's Chart of the Day was shared by @cycle_strategy.
- After carving out a potential bottom last year, China is trying to establish a new uptrend. Over the past year, the China Large Cap ETF ($FXI) has gained twice as much as the S&P 500 ($SPY), rising +53.1% vs. +22.2%.
- Around this time last year, many considered China "uninvestable." While it has become slightly less hated since then, sentiment remains bitter, and positioning is far from crowded.
- @cycle_strategy points out that the Hang Seng Index was in a similar situation at the beginning of Trump's first term in 2017. Analog charts should be taken with a grain of salt, but the similarities are uncanny.
The Takeaway: After establishing a potential bottom last year, China is gaining momentum and outperforming this year. History never repeats exactly, but the Hang Seng was in a similar situation in 2017 before an impressive run.
Top Links
Your Weekly Roadmap with Jay Woods, CMT - Investopedia
Jay Woods outlines several things to watch this week.
The Real Risk Isnโt Owning China - Alfonso's Daily Note
Alfonso De Pablos highlights the resurgence in China.
Promising Technical Setups in Copper and FCX - MP Trader
Mike Paulenoff looks at Copper and Freeport McMoRan ($FCX).
Stock Market Dreams - The Strazza Letter
Steve Strazza points out that the Chinese stock, BYD Co. ($BYDDF), is setting up for a potential leg higher.
Trump's Thumps - The Rotation Report
Aaron and Dan share their thoughts on the trends and themes across the market.
Quote of the Day
โThere is only one side of the market and it is not the bull side or the bear side, but the right side.โ
- Jesse Livermore