Copper Got Rugged π The Daily Chart Report
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Todayβs Summary
Wednesday, July 30, 2025
Indices: Nasdaq +0.16% | S&P 500 -0.13% | Dow -0.38% | Russell 2000 -0.47%
Sectors: 3 of the 11 sectors closed higher. Utilities led, gaining +0.74%. Materials lagged, dropping -2.02%.
Commodities: Crude Oil gained +1.14% to a one-month high of $70.00 per barrel. Gold rose +0.87% to $3,353 per oz.
Currencies: The US Dollar Index closed higher for the fifth consecutive day, gaining +1.00% to $99.89.
Crypto: Bitcoin was unchanged at $117,834. Ethereum rose +0.45% at $3,810.
Volatility: The Volatility Index dropped -3.13% to 15.47
Interest Rates: The US 10-year Treasury rose to 4.372%.
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 Chris Kimble (@KimbleCharting).
- Copper just had its worst session ever, plunging -18.4% today, to a two-month low of $4.62 per pound.
- Just three weeks ago, the metal had its best day ever when prices surged 13% to record highs following Trump's initial plan for a 50% tariff on Copper imports. However, he dialed it back today by exempting refined metals from the proposal.
- With one more trading day remaining in July, Chris notes that today's reversal could create the largest bearish reversal wick on the monthly chart spanning the past 20 years. Similar reversals took months or even years to recover from.
The Takeaway: Copper had its worst day on record today, just three weeks after its best session. The monthly candle will likely close with a massive upper wick tomorrow, resembling other meaningful tops in the past two decades.
Quote of the Day
"The impression has built up that the stock market is the cause of booms and busts. Actually, it is the thermometer β not the fever."
- Bernard Baruch
Top Links
Whatβs Next for the Mag 7? - The Strazza Letter
Steve Strazza breaks down the outlook for the Magnificent 7.
Quiet Kings: Utilities Flip the Switch - TrendLabs
JC Parets highlights the recent strength in the Utilities sector.
Quiet. Strong. Bullish. β
- The Daily Number
Grant Hawkridge examines the current market regime.
What if DXY Rips - Alfonso's Daily Note
Alfonso De Pablos looks at the recent bounce in the US Dollar Index ($DXY).