The Median Stock Is Breaking Out π The Chart Report
Chart of the Day
π Today's Chart of the Day was shared by Ricardo Sarraf.
The Value Line Geometric Index (VALUG) broke through its multi-month resistance level today and closed at fresh four-year highs.
This breakout undermines the narrow breadth narrative, as VALUG is widely viewed as a gauge of the median stock's performance.
A breakout to new highs in this important breadth measure suggests market participation is expanding, further supported by recent record highs in the Equal Weight S&P 500, Nasdaq, and Dow.
The Takeaway: The median stock is finally joining the party.
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