Confirmation π The Daily Chart Report
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Todayβs Summary
Monday, January 12, 2026
Indices: Russell 2000 +0.44% | Dow +0.17% | S&P 500 +0.16% | Nasdaq +0.08%
Sectors: 8 of the 11 sectors closed higher. Consumer Staples led, gaining +1.17%. Financials lagged, dropping -0.79%.
Commodities: Crude Oil rose +0.74% to $59.54 per barrel. Gold rose +2.25% to a new all-time high at $4,602 per oz.
Currencies: The US Dollar Index fell -0.25% to $98.89.
Crypto: Bitcoin is currently flat (+0.02%) at $90,888. Ethereum is down -1.02% at $3,086.
Volatility: The Volatility Index rose +4.35% to 15.11.
Interest Rates: The US 10-year Treasury yield rose to 4.187%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Grant Hawkridge (@granthawkridge).
- Dow Theory was confirmed for the first time in over a year, as Transports made new all-time highs following the Dow Industrials. This setup has historically coincided with forward one-year S&P 500 returns north of +12%.
- Grant notes that the modern-day interpretation of Dow Theory is also flashing confirmation, as Semiconductors continue to register record highs alongside the S&P 500.
- While original Dow Theory may not carry the same weight it once did, alignment between economically sensitive groups points to a healthy trend and a market with solid underlying support.
The Takeaway: Classic and modern Dow Theory signals are in sync, suggesting the uptrend is well supported beneath the surface.
Quote of the Day
βThe one fact pertaining to all
conditions is that they will change."
- Charles Dow
Top Links
Broad Bull, Tactical Tech - Thoughts on the Market
Duality Research examines the broadening of leadership outside of tech.
Is Small-Cap Leadership Back? - Alfonsoβs Daily Note
Alfonso De Pablos highlights the relative strength in small-caps.
Breadth Is Not Fading. Itβs Expanding - The Daily Number
Grant Hawkridge observes the expansion of market breadth.
Fed Independence Under Fire: Why Iβm Rotating into Metals Today - Trading Trends
John Salama discusses todayβs top themes and his bullish positioning in metals.
Markets Look Past DC Drama as Bank Earnings and Charts Take Center Stage - StockCharts.com
Mike Zaccardi breaks down upcoming bank earnings and the key charts heβs monitoring.