Value Steps Up π The Daily Chart Report
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Todayβs Summary
Friday, January 23, 2026
Indices: Nasdaq +0.34% | S&P 500 +0.03% | Dow -0.58% | Russell 2000 -1.82%
Sectors: 7 of the 11 sectors closed higher. Materials led, gaining +0.91%. Financials lagged, dropping -1.38%.
Commodities: Crude Oil rose +3.18% to $61.25 per barrel. Gold rose +1.41% to a new all-time high of $4,982 per oz.
Currencies: The US Dollar Index fell -0.80% to $97.47.
Crypto: Bitcoin is currently down -0.22% at $89,265. Ethereum is down -0.24% at $2,942.
Volatility: The Volatility Index rose +2.88% to 16.08.
Interest Rates: The US 10-year Treasury yield fell to 4.231%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Ricardo Sarraf (@nullcharts).
- The three major value sectors are all setting up for structural breakouts, led by Materials ($XLB) after registering new all-time highs today.
- Since Technology peaked in October, these groups have emerged as relative leaders, with this week marking the longest stretch of growth underperformance versus value ($IWF/$IWD) in nearly a year.
- Despite being traditionally defensive sectors, broad participation and coordinated breakouts favor internal rotation rather than a weakening risk backdrop.
The Takeaway: The market is showing a shift toward value, with multiple sectors gaining momentum and participation expanding across the board.
Quote of the Day
βA bubble is a bull market
in which you don't
have a position."
- Eddy Elfenbein
Top Links
IGV vs. SMH β The most oversold EVER - CappThesis
Frank Cappelleri breaks down the disparity in performance between semiconductors and software.
The Stock Market Lies - Thompsonβs Two Cents
Larry Thompson highlights Equal Weight Technology making new all-time highs amid tech underperformance narratives.
This Is Not a Defensive Market - The Daily Number
Grant Hawkridge notes the breakout in high-yield bonds versus U.S. Treasuries.
Diversification Can Fail When You Need It Most - Market Misbehavior
David Keller outlines the conditions under which diversification may not protect portfolios.