Daily Chart Report 📈 Monday, July 15, 2024
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Today’s Summary
Monday, July 15, 2024
Indices: Russell 2000 +1.80% | Dow +0.53% | S&P 500 +0.28% | Nasdaq +0.27%
Sectors: 6 of the 11 sectors closed higher. Energy led, gaining +1.51%. Utilities lagged, falling -2.43%.
Commodities: Crude Oil futures fell -0.36% to $81.91 per barrel. Gold futures rose +0.34% to $2,429 per oz.
Currencies: The US Dollar Index gained +0.16% to $104.25.
Crypto: Bitcoin jumped +6.49% to $64,769. Ethereum jumped +7.39% to $3,486.
Volatility: The Volatility Index rose +5.46% to 13.13.
Interest Rates: The US 10-year Treasury yield rose to 4.233%
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
Four Non Tops $BTC $ETH $BNB $SOL pic.twitter.com/xbHtKkFNXk
— Steven Strazza (@sstrazza) July 15, 2024
Today’s Chart of the Day was shared by Steve Strazza (@sstrazza).
- Crypto markets firmed up over the weekend as some of the top coins reclaimed broken support. The four largest ($BTC, $ETH, $BNB, $SOL) formed potential tops in Q2, but Steve points out these tops are failing.
- On Friday, Bitcoin reclaimed support at $58k, marking a Failed Breakdown. Since then, it’s been on a four-day winning streak, gaining +12%.
- The Crypto market got a little frothy in Q1. Bitcoin had just broken out to record highs, Halving was around the corner, and the dumbest meme coins were surging higher. This four-month consolidation has shaken out the weak hands and refreshed sentiment.
The Takeaway: The Crypto markets trapped the bears over the weekend. Some of the most important coins are resolving higher despite forming potential tops in Q2. When bearish patterns fail, it’s often bullish.
Quote of the Day
“Man can succeed at almost anything for which he has unlimited enthusiasm.”
– Charles Schwab
Top Links
It’s Time To Consider These Areas As Emerging Leaders – StockCharts.com
Tom Bowley looks at the turnaround in the Russell 2000 and Regional Banks.
Are Semiconductor Stocks Nearing An Inflection Point? – Kimble Charting Solutions
Chris Kimble points out that Semis are running into Fibonacci resistance.
July 2024 Mid-Month Conference Call – All Star Charts
JC’s mid-month strategy session was last night for members of All Star Charts Premium. He reviewed over 100 charts. Click here to get access.
Top Tweets
The S&P 500 $SPY just had its highest daily close of all-time. pic.twitter.com/WuqHkOB2gs
— Caleb Franzen (@CalebFranzen) July 15, 2024
The Nasdaq 100 didn’t tag a new record on either an intraday or close basis, and the SPX only managed an intraday record.
The $DJIA on the other hand notched both records on an intraday and close basis.
Rise of the Bluechips… pic.twitter.com/T8ylT9cXfO
— John Kicklighter (@JohnKicklighter) July 15, 2024
More than 73% of S&P 500 $SPX stocks are now trading above their 200D moving average, the most since May pic.twitter.com/JZk2b0zH3K
— Barchart (@Barchart) July 16, 2024
US Small Caps are up 6.8% over the last 3 trading days while US Large Caps are flat. The 6.8% spread is 6 standard deviations above the mean & the 3rd largest small outperformance we’ve seen since inception of the 1st small cap ETF in May 2000. $IWM $SPYhttps://t.co/l5IYmkf6Ih pic.twitter.com/d0ecJ31LTF
— Charlie Bilello (@charliebilello) July 15, 2024
Russell 2000 small caps $IWM with a textbook stage 2 breakout on high volume. pic.twitter.com/wB6DGg3tJH
— Ross J Brown (@RJB_Financial) July 15, 2024
It’s both small-cap value and Small-cap growth pic.twitter.com/42CKoRBsaT
— J.C. Parets (@allstarcharts) July 15, 2024
Hey… Guess what… We had a thrust trigger…
The Triple 70 Thrust indicator is triggered when the percentage of rising stocks in the market exceeds 70% for three consecutive days. 95% of the time, the index is positive with an average gain of 21.7% (19.4% median) pic.twitter.com/xbt0QuqEit
— Grant Hawkridge (@granthawkridge) July 15, 2024
Spread between @AAIISentiment bulls and bears has reversed higher; now pushing up against upper end of range over past few years pic.twitter.com/ZivarqtLHp
— Liz Ann Sonders (@LizAnnSonders) July 15, 2024
Regional Banks inching towards a 52 week high for the first time in years. $KRE pic.twitter.com/5BKRD4YLYg
— Against All Odds Research (@JasonP138) July 15, 2024
$AAPL ELECTION YEAR SEASONALITY
During election years, August has been Apple’s best-performing month since the early 1980s.
82% win rate and an average return of +8.97% pic.twitter.com/VZvjNKlVCF
— TrendSpider (@TrendSpider) July 15, 2024
Trump credits chart for saving his life, doctor says he came ‘quarter of an inch’ from dying https://t.co/WB9yg5pF8P pic.twitter.com/p03tbRVe3R
— New York Post (@nypost) July 15, 2024
You’re all caught up now. Thanks for reading!
The post Daily Chart Report 📈 Monday, July 15, 2024 appeared first on The Chart Report.
