Face Ripper π The Daily Chart Report
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Todayβs Summary
Wednesday, April 9, 2025
Indices: Nasdaq +12.02% | S&P 500 +9.51% | Russell 2000 +8.66% | Dow +7.87%
Sectors: All 11 sectors closed higher by +3% or more. Technology led, surging +13.43%. Consumer Staples lagged but still rose +3.88%.
Commodities: Crude Oil rose +4.65% to $62.35 per barrel. Gold jumped +2.98% to $3,079 per oz.
Currencies: The US Dollar Index was unchanged at $102.91.
Crypto: Bitcoin rose +8.33% to $82,595. Ethereum gained +13.41% to $1,669
Volatility: The Volatility Index had its largest single-day drop in history, sliding -35.72 to 33.63.
Interest Rates: The US 10-year Treasury yield rose to 4.328%.
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 Mike Zaccardi (@MikeZaccardi).
- The S&P 500 surged +9.5% today, marking its best day since 2008 and its third-best day ever.
- Despite today's historic reversal, Mike points out that $SPX has recovered less than half its decline. It's still below where it closed on 'Liberation Day' and over 5% below its 200-day moving average.
- It would be even more impressive if $SPX recovers the 61.8% Fibonacci retracement at 5,646. When price recovers at least 61.8% of its decline, it often goes on to fully recover 100% of its decline.
The Takeaway: Today was the third-best day in the history of the S&P 500. However, the index has recovered less than half of its decline. There's still plenty of damage to repair, but recovering at least 61.8% of the decline would lower the odds of this being a bear market rally.
Quote of the Day
"A bull market tends to bail you out of all your mistakes.
Conversely, bear markets make you pay for your mistakes."
- Richard Russell
Top Links
A Day for the History Books - Alfonso's Daily Note
Alfonso De Pablos looks at today's historic rally.
The Best of Times. The Worst of Times. - The Strazza Letter
Steve Strazza shares his thoughts on today's rebound and the recent volatility.
Financials Look Good and Have Held Their Own Well - CNBC
Jeff deGraaf discusses sector trends and the current market environment.
Whatβs Working in the Bear Market - CappThesis
Frank Cappelleri examines the recent price action and patterns in the S&P 500.