Daily Chart Report 📈 Monday, July 1, 2024
Powered By:
Today’s Summary
Monday, July 1, 2024
Indices: Nasdaq +0.66% | S&P 500 +0.27% | Dow +0.13% | Russell 2000 -0.86%
Sectors: 4 of the 11 sectors closed higher. Tech led, gaining +0.76%. Materials lagged, falling -1.54%.
Commodities: Crude Oil futures rose +2.26% to a two-month high of $83.38 per barrel. Gold futures were flat at $2,340 per oz.
Currencies: The US Dollar Index was flat at $105.83.
Crypto: Bitcoin inched higher by +0.24% to $62,829. Ethereum inched higher by +0.26% to $3,441.
Volatility: The Volatility Index fell -1.77% to 12.23.
Interest Rates: The US 10-year Treasury yield rose to 4.465%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
$XLE – Energy has failed in this position a couple times, will this time be different? pic.twitter.com/2oJWtaSUvp
— Larry Thompson (@HostileCharts) July 1, 2024
Today’s Chart of the Day was shared by Larry Thompson (@HostileCharts).
Quote of the Day
“Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets.”
– Alexander Elder
Top Links
Is A Summer Storm Coming? – Cautiously Optimistic
Callie Cox examines the lack of volatility right now.
Your 4-Month Market Correction – All Star Charts
JC Parets looks at the stealth correction within the market since February.
Six Burning Questions for Stock Market Bulls – Ciovacco Capital Management
Chris Ciovacco analyzes the major trends in the stock market.
Here’s Why You Should Be Buying Software NOW – StockCharts.com
Tom Bowley highlights the outlook for Software stocks.
Top Tweets
Super sleepy last 9 days pic.twitter.com/xsULvYjZCU
— Mike Zaccardi, CFA, CMT
(@MikeZaccardi) July 1, 2024
Only 93 stocks (18.5%) beat the $SPX index today as the trillionaires (and $TSLA) dominated. Less than a quarter of stocks are doing better than the index YTD (14.8%): pic.twitter.com/FgFxVsfI7P
— Optuma (@Optuma) July 1, 2024
2024 has been the best first-half start out of all election years going back to 1952 pic.twitter.com/UBjy57aqQh
— Grant Hawkridge (@granthawkridge) July 1, 2024
As many have noted, the first half of July is usually pretty strong.
Looking at why, it isn’t because it has a bunch of great days, but a lack of bad days. pic.twitter.com/Tj2wpw3GBU
— Ryan Detrick, CMT (@RyanDetrick) July 1, 2024
Neat visual from https://t.co/0I73M3GAAG
Vertical axis: Past 1-year performance of $SPX stocks
Horiz axis: Sector
Bubble size: Market cap#Dispersion pic.twitter.com/Ynf0HWlC7h— Brian G (@alphacharts) July 1, 2024
Most sectors in the Q2 didn’t fair too well. Three outperformed on a total return basis and just two on price-only (shown below). More than half were negative during the quarter. pic.twitter.com/DO1gjGX4um
— Andrew Thrasher, CMT (@AndrewThrasher) July 1, 2024
Homebuilders (-2.5%) broke support today, making their first 3-month low since the October bottom pic.twitter.com/azhJHlBPu3
— Scott Brown, CMT (@scottcharts) July 1, 2024
$XLB: The 86-zone was an important level to get through on the way up.
It’s now an important area to hold on the way down. pic.twitter.com/9JGGoBLibz
— Frank Cappelleri (@FrankCappelleri) July 1, 2024
#WTI Crude Oil prices are perking up today, to say the least.
The key resistance level to watch will be $84 – if we get above there, the 2024 highs at $87 come into play. pic.twitter.com/PFawBe8MOT
— Matt Weller CFA, CMT (@MWellerFX) July 1, 2024
$TLT #TLT Bonds nearing the trend zone which was a previous bounce spot. pic.twitter.com/6pIjdPVnyj
— Jake Wujastyk (@Jake__Wujastyk) July 1, 2024
— Mads Capital (@MadsCapital) July 1, 2024
You’re all caught up now. Thanks for reading!
The post Daily Chart Report 📈 Monday, July 1, 2024 appeared first on The Chart Report.
