Tech Threatens to Top π The Daily Chart Report
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Todayβs Summary
Friday, August 29, 2025
Indices: Dow -0.20% | Russell 2000 -0.50% | S&P 500 -0.64% | Nasdaq 100 -1.22%
Sectors: 6 of the 11 sectors closed higher. Health Care led, gaining +0.73%. Technology lagged, falling -1.53%.
Commodities: Crude Oil fell -0.91% to $64.60 per barrel. Gold rose +1.20% to $3,516 per oz.
Currencies: The US Dollar Index inched lower by -0.04% to $97.86.
Crypto: Bitcoin is currently down -3.74% to $108,362. Ethereum is down -3.20% to $4,366.
Volatility: The Volatility Index rose +6.30% to 15.35.
Interest Rates: The US 10-year Treasury dropped to 4.232%.
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 Michael Kahn (@mnkahn).
- Despite all the hype around $NVDA earnings, the Technology Sector ($XLK) finished the week unchanged. It closed the month slightly lower by just -0.11%, ending a four-month winning streak.
- As we enter the worst month of the year, Michael notes that $XLK has formed a potential Head & Shoulders Top over the past month. Breaking below the neckline, around $255, would confirm this bearish pattern.
- Momentum has faded, with RSI diverging and failing to produce a single overbought reading in August. Chart patterns often fail when everyone sees the same thing, and it's often bullish when bearish patterns fail. However, the major indices will struggle if their largest sector completes this top.
The Takeaway: The Technology sector ($XLK) has formed a potential Head & Shoulders Top as we enter what has typically been a weak month for stocks. If this top completes, the major indices will feel the pressure. On the other hand, if it fails, it will be a tailwind into year-end.
Quote of the Day
"Simple can be harder than complex."
- Steve Jobs
Top Links
Post-Labor Day blues likely compounded by weak first trading day of September
Jeff Hirsch examines how the major indices have historically performed on the first trading day of September.
Stock Market & Crypto Analysis 8/29/25 - Brian Shannon
Brian Shannon breaks down this week's price action and some key levels to watch next week.
Quantam Stocks Break Out Again - Alfonso's Daily Note
Alfonso De Pablos highlights the breakout in the Quantum Computing stocks ($QTUM).
Energy: The Next Big Rotation? - All Star Charts
Jason Perz and Sam Gatlin examine the setup for the Energys sector.
NVIDIA (NVDA) is How Big?? - Bespoke
Bespoke checks on Nvidia ($NVDA) after a lackluster reaction to earnings this week.
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