Tech Earnings Threaten Historic Win Streak π The Daily Chart Report
Powered By:
Todayβs Summary
Thursday, May 1, 2025
Indices: Nasdaq 100 +1.10% | S&P 500 +0.63% | Russell 2000 +0.60% | Dow +0.21%
Sectors: 7 of the 11 sectors closed higher. Technology led, rising +1.47%. Health Care lagged, dropping -2.73%.
Commodities: Crude Oil rose +1.34% to $58.99 per barrel. Gold dropped -2.20% to $3,246 per oz.
Currencies: The US Dollar Index rose +0.53% to $100.17.
Crypto: Bitcoin is currently up +2.73% to $96,752. Ethereum is up +2.97% at $1,846.
Volatility: The Volatility Index fell -0.32% to 24.61.
Interest Rates: The US 10-year Treasury yield snapped a seven-day losing streak, rising to 4.214%.
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 @SubuTrade.
- The S&P 500 has closed higher for eight straight days, gaining +8.7%. This was its first eight-day win streak since November, and another gain tomorrow would be the first nine-day win streak since 2004.
- The index closed above its 50-day moving average today for the first time since February. However, it remains -2.5% below its 200-day moving average.
- @SubuTrade notes that when eight-day win streaks have occurred below the 200-day moving average, returns over the next month have historically been weak, up just 50% of the time with an average loss of -3.1%.
The Takeaway: The S&P 500 has rallied for eight straight days, and another gain tomorrow would mark its longest win streak in over two decades. However, the next month has historically been unimpressive when eight-day win streaks have occurred below the 200-day moving average.
Quote of the Day
"Costrophobia: The fear of rising prices."
- Ronald Reagan
Top Links
Tech Is Back - Alfonso's Daily Note
Alfonso De Pablos looks at the rebound in the Tech sector.
How to Trade a 'Sell in May and Go Away' Signal - Scheffer's Investment Research
Rocky White examines "Sell in May, and go away" and the stocks that tend to buck this adage.
What To Know About Leverage - Strategas Asset Management
Todd Sohn shares some key takeaways from recent fund flows.
Money is Leaving the United States π - The Daily Number
Grant Hawkridge highlights the strength in international markets.