Health Care Gets Ozempic'd ๐ The Daily Chart Report
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Todayโs Summary
Thursday, July 17, 2025
Indices: Russell 2000 +1.20% | Nasdaq +0.76% | S&P 500 +0.54% | Dow +0.52%
Sectors: 9 of the 11 sectors closed higher. Financials led, gaining +0.96%. Health Care lagged, falling -1.14%.
Commodities: Crude Oil rose +1.75% to $67.54 per barrel. Gold fell -0.41% to $3,345 per oz.
Currencies: The US Dollar Index rose +0.34% to $98.62.
Crypto: Bitcoin is up +0.93% to $119,819. Ethereum is up +3.47% to a six-month high of $3,490.
Volatility: The Volatility Index dropped -3.73% to 16.51.
Interest Rates: The US 10-year Treasury fell to 4.455%.
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 Rob Anderson (@_rob_anderson).
- The Technology sector closed at a fresh record high today on both an absolute and relative basis. It was already the largest sector of the S&P 500, but it's become even more dominant recently.
- Rob points out that Tech now represents over 33% of the S&P 500, marking its highest weighting since the dot-com bubble. The entire sector had a market capitalization of $4.4 trillion at the time, which is roughly equivalent to $NVDA's current market cap.
- Health Care ($XLV), on the other hand, has continued to shed weight. It went from being the second-largest sector to the fifth-largest, representing just 9.2% of the index.
The Takeaway: Techโs weighting in the S&P 500 is the highest since the dot-com bubble, while Health Careโs weight has shrunk significantly. While concentration risk is rising, this is a natural consequence of a cap-weighted index, where the strongest names become increasingly influential, and the weakest names become less impactful.
Quote of the Day
"Charting is a little like surfing. You don't have to know a lot about the physics of tides, resonance, and fluid dynamics to catch a good wave. You just have to be able to sense when it's happening and then have the drive to act at the right time."
- Ed Seykota
Top Links
How Nvidia's Size is Rewriting the Market Playbook - Yahoo Finance
Todd Sohn shares his thoughts on the growing influence of $NVDA and the Tech sector.
ES Bull Flag Forms as 6260 Support Holds - Eyes on 6333 Resistance - Day Trader Playbook
Yuriy Matso looks at the recent price action and patterns in S&P 500 futures.
Stretch? What Stretch? ๐ง - The Daily Number
Grant Hawkridge notes that the S&P 500 may not be as stretched as it appears.
Bitcoinโs Losing Share โ Thatโs Bullish, Not Bearish - TrendLabs
JC Parets highlights the signs of risk appetite for Crypto.