Equal Weight S&P 500 Hits Record Highs 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Pratty Charts.
The Equal Weight S&P closed at new all-time highs after putting in a breakaway gap above its prior highs.
Where the recent narrative has been how concentrated breadth has been, the "average" S&P 500 stock as represented by RSP just flipped the script.
This breakout adds another bullish datapoint to the bull market checklist.
The Takeaway: The average S&P 500 constituent is making all-time highs.
More Great Charts
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Consumer sentiment today is worse than the great financial crisis and 2020 pandemic shutdown.
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Technology is making new all-time highs relative to the S&P 500.
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Semiconductors are trading farther above their 12-month moving average than ever before.
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The Defiance Quantum ETF closed at new all-time highs.
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The Meme ETF recorded its highest weekly close on record.
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Across major U.S. IPOs, the median maximum drawdown over the first three months has been -18.5%.
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