Big Improvements for Smalls π The Daily Chart Report
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Todayβs Summary
Wednesday, July 2, 2025
Indices: Russell 2000 +1.31% | Nasdaq +0.73% | S&P 500 +0.47% | Dow -0.02%
Sectors: 7 of the 11 sectors closed higher. Energy led, gaining +1.72%. Health Care lagged, falling -0.99%.
Commodities: Crude Oil gained +3.06% to $67.45 per barrel. Gold rose +0.30% to $3,360 per oz.
Currencies: The US Dollar Index snapped a nine-day losing streak, rising +0.13% to $96.77.
Crypto: Bitcoin is trading higher by +3.12% at $109,004. Ethereum is up +7.46% at $2,584.
Volatility: The Volatility Index fell -1.25% to 16.63.
Interest Rates: The US 10-year Treasury rose to 4.283%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Mike Zaccardi (@MikeZaccardi).
- The Russell 2000 ($IWM) flipped positive on the year today after being down more than -20% YTD. $IWM has notably outperformed its large-cap peers since its annual reconstitution at the end of June.
- Mike points out that $IWM closed above its 200-day moving average for the second straight day. Momentum remains strong, with RSI printing its highest reading since November, closing just shy of overbought at 69.58.
- $IWM hasn't seen a record high since 2021, although it came very close in November. While $IWM remains -9% below its peak, there's little preventing it from completing its recovery in the coming months.
The Takeaway: The Russell 2000 ($IWM) closed above its 200-day moving average for the second straight day. With price at a four-month high and momentum at a seven-month high, Small-Caps could make another attempt at record highs before the year is over.
Quote of the Day
"What is not happening can be
more important than what is."
- Mark Dibble
Top Links
Trend Just Flipped. History Says Donβt Fade It.π - The Daily Number
Grant Hawkridge examines the recent Golden Cross signal in the S&P 500.
50 Stocks to Target For the Rest of the Year - Schaeffer's Investment Research
Rocky White looks at which stocks could lead in the second half of the year based on their first half performance.
Big Banks Printing Gains - Alfonso's Daily Note
Alfonso De Pablos points out that Banks are breaking out to fresh highs.
Buying the Three B's - The Strazza Letter
Steve Strazza highlights three areas that could benefit from lower rates: banks, biotech, and builders.