Nine-Day Streak and a Perfect Week π The Daily Chart Report
Powered By:
Todayβs Summary
Friday, May 2, 2025
Indices: Russell 2000 +2.27% | Nasdaq +1.60% | S&P 500 +1.47% | Dow +1.39%
Sectors: All 11 sectors closed higher. Financials led, rising +2.07%. Consumer Staples lagged, but still rose +0.54%.
Commodities: Crude Oil fell -1.60% to $58.29 per barrel. Gold rose +0.65% to $3,243 per oz.
Currencies: The US Dollar Index fell -0.14% to $100.03.
Crypto: Bitcoin is currently up +0.56% to $97,080. Ethereum is up +0.47% at $1,847.
Volatility: The Volatility Index dropped -7.88% to 22.67.
Interest Rates: The US 10-year Treasury yield rose to 4.308%.
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 Jason Goepfert (@jasongoepfert).
- The Nasdaq Composite has rallied +18% from its April 8th low on a closing basis.
- When the Nasdaq has surged more than +14% off a 52-week low, Jason points out that the following week's performance has historically been telling.
- When the index has fallen less than 3% within the following week, the average 12-month forward return has been nearly +40%. Conversely, if it experiences a -3% drop, the average return has been roughly -13%.
The Takeaway: The Nasdaq has surged +18% from its recent low. After similar thrusts, a pullback within a week has historically been a red flag. As Walter Deemer famously said, "When the train leaves the station, it doesn't back up to let latecomers on. If it does, there's something wrong with the train."
Quote of the Day
"Spring is nature's way of saying,
'Let's party!'"
- Robin Williams
Top Links
Getting Back to Even - Bespoke
Bespoke examines the rebound off the April lows.
Scanning For Strength - The Strazza Letter
Steve Strazza highlights the areas of relative strength amid the recent volatility.
Bear Market Is Coming With S&P 500 Rally Stalling Soon, DeMark Says - Bloomberg
Tom DeMark shares his read on the current market environment.
Small-Caps Could Start a New Leg Higher - Alfonso's Daily Note
Alfonso De Pablos points out that Small-Caps are at a potential inflection point versus Large-Caps.
Rubber Meets The Road - The Weekly Trend Podcast
Ian McMillan and David Zarling discuss the major trends and themes in the market.