$ETH Strikes Back as Equites Pause π The Daily Chart Report
Powered By:
Todayβs Summary
Friday, May 9, 2025
Indices: Nasdaq 100 -0.01% | S&P 500 -0.07% | Russell 2000 -0.16% | Dow -0.29%
Sectors: 6 of the 11 sectors closed higher. Energy led, rising +1.00%. Health Care lagged, falling -1.09%.
Commodities: Crude Oil rose +1.85% to $61.02 per barrel. Gold rose +1.15% to $3,344 per oz.
Currencies: The US Dollar Index fell -0.21% to $100.42.
Crypto: Bitcoin is currently down -0.36% to $102,886. Ethereum is up +5.81% at $2,335.
Volatility: The Volatility Index fell -2.58% to 21.89.
Interest Rates: The US 10-year Treasury yield was unchanged at 4.382%.
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 Peter Brandt (@PeterLBrandt).
- It was a bullish week for Crypto, with Bitcoin reclaiming $100k. But it was Ethereum, the second-largest cryptocurrency, that stole the spotlight, surging nearly +30% over the past two days.
- While Bitcoin is up +64% over the past year, Ethereum is down -23%. Despite its lack of participation this cycle, Ethereum remains the second-largest cryptocurrency by market cap ($283 billion).
- Peter points out that Ethereum's sloppy price action over the past four years is starting to resemble a longer-term consolidation pattern. It has made a series of lower highs and higher lows since 2021, building pressure for a potential multi-year trend.
The Takeaway: Ethereum has lagged considerably over the past four years. However, it's coiling into a narrow range and setting the stage for a potential multi-year trend.
Quote of the Day
βThe grumpier you are,
the more assholes you meet.β
- Banksy
Top Links
The Next Magnificent 7 - Alfonso's Daily Note
Alfonso De Pablos introduces a new basket of seven leading growth stocks: $NOW, $CRWD, $UBER, $PLTR, $COIN, $SPOT, and $NFLX..
A Bull in Bangkok - The Strazza Letter
Steve Strazza outlines the bull case for Thailand ($THD).
Breadth & a Trade Idea - CappThesis
Frank Cappelleri looks at market internals and a bullish setup in Tesla ($TSLA).
Typical Post-Election Year May
Jeff Hirsch examines how stocks have historically performed in May of post-election years.
The Soul of a Short-Seller - The Compound & Friends
Carson Block discusses the nuances of short selling with Josh Brown and Michael Batnick.