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Daily Chart Report 📈 Friday, June 21, 2024

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Today’s Summary
Friday, June 21, 2024

Indices: Russell 2000 +0.23% | Dow +0.04% | S&P 500 -0.16% | Nasdaq 100 -0.26%

Sectors: 6 of the 11 sectors closed higher. Consumer Discretionary led, rising +1.59%. Utilities lagged, falling -1.03%.

Commodities: Crude Oil futures fell -0.69% to $80.73 per barrel. Gold futures dropped –1.60% to $2,331 per oz.

Currencies: The US Dollar Index rose +0.17% to $105.83.

Crypto: Bitcoin fell -1.15% to $64,102. Ethereum inched higher by +0.17% to $3,517.

Volatility: The Volatility Index fell -0.60% to 13.19.

Interest Rates: The US 10-year Treasury yield fell to 4.257%.

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 David Keller (@DKellerCMT).

  • Mega-Cap leaders like $NVDA and $AAPL started to stumble this week. However, David points out that the S&P 500 remains incredibly strong if it’s above last week’s gap at 5,400.
  • Momentum also remains strong. RSI reached a six-month high this week, confirming the trend rather than diverging. Falling below 5,400 would put the uptrend at risk, as it would open the door to the April low at 5,200.

The takeaway: The S&P 500 closed at record highs for the third week in a row. Breadth could be better, but the trend and momentum remain strong. Keep an eye on 5,400 for potential support next week.

Quote of the Day

“We have, as human beings, a storytelling problem. We’re a bit too quick to come up with explanations for things we really don’t have an explanation for.”

Malcolm Gladwell

Top Links

Stock Market & Crypto Analysis June 21, 2024 – Alphatrends
Brian Shanon examines this week’s price action and highlights some key levels to watch next week.

Darvas Trading Boxes – Chart Advisor – Investopedia
Frank Cappelleri applies a trend-following strategy to the S&P 500.

Deja Disaster? – StockCharts
Carl Swenlin looks at the aftermath of the bubble.

Concentration Risk for Growth ETFs – Strategas Asset Management
Todd Sohn looks at the growing influence of Tech within the major indices.

Top Tweets

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

The post Daily Chart Report 📈 Friday, June 21, 2024 appeared first on The Chart Report.

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