Pressure Builds at 6,000 π The Daily Chart Report
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Todayβs Summary
Wednesday, June 4, 2025
Indices: Nasdaq 100 +0.27% | S&P 500 +0.01% | Russell 2000 -0.21% | Dow -0.22%
Sectors: 6 of the 11 sectors closed higher. Communications led, gaining +0.64%. Energy lagged, falling -1.95%.
Commodities: Crude Oil fell -0.88% to $62.85 per barrel. Gold rose +0.65% to $3,399 per oz.
Currencies: The US Dollar Index dropped -0.44% to $98.82.
Crypto: Bitcoin is currently down -0.36% to $105,078. Ethereum is up +1.11% to $2,623.
Volatility: The Volatility Index fell -0.56% to 17.60.
Interest Rates: The US 10-year Treasury yield dropped to 4.357%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by TrendSpider (@TrendSpider).
- After rebounding sharply off the April lows, the S&P 500 has spent the past two weeks consolidating just -3% below its February all-time highs.
- TrendSpider notes that futures are testing resistance at 6,000 for the third time. The previous two rejections resulted in higher lows, forming a bullish Ascending Triangle pattern.
- This well-defined resistance level at 6,000 is the final hurdle in the recovery process before the S&P 500 tests all-time highs near 6,160.
The Takeaway: The S&P 500 has formed an Ascending Triangle over the past two weeks, defined by rising support and horizontal resistance at 6,000. A breakout from this bullish pattern would target all-time highs near 6,160.
Quote of the Day
"Never short a dull market."
- Old Wall St. Adage
Top Links
Green Flags - Alfonso's Daily Note
Alfonso De Pablos highlights a few positive technical developments for the S&P 500.
NASDAQ & Russell 2000 Have Fared Best in Post-Election Year Junes - Almanac Trader
Jeff Hirsch looks at how stocks have historically performed in June of post-election years.
Software Rebootedβ¦ to All-Time Highs π - The Daily Number
Grant Hawkridge points out that the Software ETF ($IGV) has rebounded to all-time highs.
Does Anyone Even Want to Own Energy Anymore? - Strategas Asset Management
Todd Sohn shares his thoughts on the Energy sector.
What Happens When U.S. Stocks Lag Global Markets - Schaeffer's Investment Research
Rocky White examines how stocks have historically performed when the US has underperformed in the first five months of a year.