Tape Bomb π£ Daily Chart Report
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Todayβs Summary
Wednesday, April 2, 2025
Indices: Russell 2000 +1.65% | Nasdaq +0.75% | S&P 500 +0.67% | Dow +0.56%
Sectors: 10 of the 11 sectors closed higher. Consumer Discretionary led, rising +1.90%. Consumer Staples lagged, falling -0.29%.
Commodities: Crude Oil futures rose +0.72% to $71.71 per barrel. Gold rose +0.64% to an all-time high of $3,166 per oz.
Currencies: The US Dollar Index dropped -0.49% $103.69.
Crypto: Bitcoin dropped -3.13% to $82,502. Ethereum dropped -5.80% to a 52-week low of $1,795.
Volatility: The Volatility Index fell -1.19% to 21.52.
Interest Rates: The US 10-year Treasury yield dropped to a five-month low of 4.127%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Trend Spider (@TrendSpider).
- Stocks marched higher for the third straight day on Wednesday. However, the recent bounce was completely erased after hours, thanks to a Liberation Day tape bomb.
- S&P 500 futures opened at their March lows this evening, down over -3% from today's close. Nasdaq futures opened below their March lows, trading over -4% from today's close.
- It's not bullish when bounces fade so quickly. The major indices are vulnerable to further downside if they continue trading below their March lows.
The Takeaway: A three-day bounce was completely undone after hours. The major indices are vulnerable to further downside if they continue trading below their March lows.
Quote of the Day
"Never buy at the bottom,
and always sell too soon."
- Jesse Livermore
Top Links
The Two Most Important Charts - The Strazza Letter
Steve Strazza points out that Semis ($SOXX) and Homies($XHB) are breaking down from potential tops.
Key Levels - CappNotes
Frank Cappelleri highlights a few potential inflection points to be aware of.
Short-Term Bull Signal Facing Off With Long-Term Alarm - Schaeffer's Investment Research
Rocky White shares seasonality stats for April and more.
Gold Just Keeps on Winning πͺ - The Daily Number
Grant Hawkridge looks at Gold versus other asset classes.
No Manβs Land for Bitcoin - Alfonso's Daily Note
Alfonso De Pablos examines the outlook for Bitcoin.