Today’s Chart of the Day was shared by Steve Strazza (@sstrazza). It's a chart of the Value Line Geometric Index over the past year. This is an equally weighted index that contains about 1,700 stocks. It uses a geometric average, so the daily change reflects the median stock price change. In other words, It provides a broader and more accurate representation of the stock market than popular benchmarks like the Dow or S&P 500. Steve points out that it's breaking out to all-time highs for the first time in five months. This is further evidence that the market is broadening out and has more room to run.
Chart of the Day - Thursday, November 4th, 2021
November 4, 2021
