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Daily Chart Report 📈 Monday, May 20, 2024

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Today’s Summary
Monday, May 20, 2024

Indices: Nasdaq +0.69% | Russell 2000 +0.32% | S&P 500 +0.09% | Dow -0.49%

Sectors: 4 of the 11 sectors closed higher. Technology led, gaining +1.18%. Financials lagged, falling -1.37%.

Commodities: Crude Oil futures fell -0.35% to $79.30 per barrel. Gold futures rose +0.87% to an all-time high of $2,439 per oz.

Currencies: The US Dollar Index rose +0.12% to $104.62.

Crypto: Bitcoin gaine +7.73% to $71,401. Ethereum surged +19.25% to $3,662.

Volatility: The Volatility Index rose +1.34% to 12.14.

Interest Rates: The US 10-year Treasury yield moved higher to 4.449%.

Here are the best charts, articles, and ideas shared on the web today!

Chart of the Day

🏆 Today’s Chart of the Day was shared by Eric Conrads (@conradseric).

  • The second-largest cryptocurrency, Ethereum ($ETHUSD), surged +19.25% today, marking its best day since May 2021.
  • $ETHUSD blasted through a 10-week downtrend line as traders speculate that the SEC could approve a spot Ethereum ETF  this week.

The takeaway: Ethereum surged over +19% today, breaking a 10-week downtrend line. It looks ready to resume its uptrend and outperform Bitcoin in the near term. 

Quote of the Day

“It’s not the daily increase but daily decrease. Hack away at the unessential.”

– Bruce Lee

Top Links

Extreme Nasdaq Extremes – Bespoke
Bespoke looks at the volatility in the Nasdaq.

Tech & Small Caps Historically Best Week Before Memorial Day – Almanac Trader
Jeff Hirsch examines how stocks have historically performed around Memorial Day.

Most New Highs in Years – All Star Charts
JC highlights evidence of broadening participation in the stock market.

The Percentage Life – The Weekly Trend
Ian McMillan and David Zarling discuss the noteworthy trends across the markets.

The Free Finance Newsletters I Read All the Time 📬 – TKer
Here’s a fantastic list of free market-related newsletters from Sam Ro. We’re honored to have made the list!

Top Tweets

You’re all caught up now. Thanks for reading!

The post Daily Chart Report 📈 Monday, May 20, 2024 appeared first on The Chart Report.

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