Fed Day Chopfest 📈 The Daily Chart Report
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Today’s Summary
Wednesday, May 7, 2025
Indices: Dow +0.70% | S&P 500 +0.43% | Nasdaq 100 +0.39% | Russell 2000 +0.33%
Sectors: 8 of the 11 sectors closed higher. Technology led, rising +1.00%. Materials lagged, falling -0.55%.
Commodities: Crude Oil fell -1.73% to $58.07 per barrel. Gold dropped -0.90% to $3,392 per oz.
Currencies: The US Dollar Index rose +0.46% to $99.86.
Crypto: Bitcoin is currently down -0.17% at $96,647. Ethereum is down -1.20% at $1,795.
Volatility: The Volatility Index dropped -4.97% to 23.54.
Interest Rates: The US 10-year Treasury yield dropped to 4.269%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
🏆 Today's Chart of the Day was shared by Frank Cappelleri (@FrankCappelleri).
- Today's price action was relatively muted despite anticipation around the FOMC meeting. The S&P 500 bounced +0.4% after drifting lower over the first two days of the week.
- Frank notes that $SPX has formed a potential Bull Flag this week after snapping a historic nine-day winning streak on Monday. Resolving higher from this continuation pattern would signal the start of another advance.
- Today's setup is the mirror opposite of the last FOMC meeting from March 19th, when the index formed a Bear Flag that eventually resolved lower.
The Takeaway: The S&P 500 has formed a potential Bull Flag over the past three days, following the end of its longest winning streak in 20 years. A breakout would signal a new leg higher. However, if this bullish pattern fails, it will be a clear warning sign.
Quote of the Day
"Do not seek to follow in the footsteps of the wise.
Seek what they sought."
- Matsuo Basho
Top Links
The Next Big Tech Leader? - Alfonso's Daily Note
Alfonso De Pablos points out that Cybersecurity stocks are showing relative strength.
What a Bullish Outside Day Means for the S&P 500 - Schaeffer's Investment Research
Rocky White examines how the S&P 500 has historically performed after a bullish outside day.
The Stock Market's Big Chance After Snapping Back - CappThesis
Frank Cappelleri analyzes the recent price action and patterns in the S&P 500.
Are ETF Flows Indicating Rally Skepticism? - Strategas Asset Management
Todd Sohn shares some key takeaways from recent fund flows.