No TACO for Dr. Copper π The Daily Chart Report
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Todayβs Summary
Tuesday, July 8, 2025
Indices: Russell 2000 +0.66% | Nasdaq +0.07% | S&P 500 -0.07% | Dow -0.37%
Sectors: 4 of the 11 sectors closed higher. Energy led, rising +2.69%. Utilities lagged, falling 1.06%.
Commodities: Crude Oil gained +0.59% to $68.33 per barrel. Gold fell -0.77% to $3,317 per oz.
Currencies: The US Dollar Index was unchanged at $97.51.
Crypto: Bitcoin rose +0.61% to $108,947. Ethereum gained +2.92% to $2,617.
Volatility: The Volatility Index dropped -5.62% to 16.80.
Interest Rates: The US 10-year Treasury rose for the fifth consecutive day, closing at 4.403%.
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 Perz (@JasonP138).
- Copper had its best day ever today, with futures surging more than +13% as Trump threatened to impose a 50% tariff on Copper imports.
- It closed decisively above resistance, emerging from a four-year base. While previous breakouts have failed, this one could have legs if $5.20 holds as support in the near term.
- Copper Miners were suspiciously quiet today, with $COPX gaining less than one percent. However, if these stocks begin to participate, it will further reinforce the bull case. Continued strength from Copper would be a positive sign for both the stock market and the economy, given the metal's reputation as a leading indicator.
The Takeaway: Copper had a record-breaking day, with futures surging more than +13% to an all-time high. The metal is emerging from a four-year base and kicking off a potential leg higher.
Quote of the Day
"The man who is a pessimist before 48 knows too much; if he is an optimist after it, he knows too little."
- Mark Twain
Top Links
The Sweet Spot - Carson Research
Ryan Detrick shares a few noteworthy stats to consider in the back half of the year.
Same News, Better Reaction - CappNotes
Frank Cappelleri looks at the recent price action and patterns in the S&P 500.
Profit Taking and Discount Shopping - Bespoke
Bespoke points out that the first-half laggards are leading so far in the second half.
When Price and Policy Agreeβ¦ Donβt Argue π’ - The Daily Number
Grant Hawkridge highlights a bullish signal for the S&P 500.
Chart Of The Day - The Rotation Report
Aaron Jackson examines the outlook for Treasury Bonds.