— Steven Strazza (@sstrazza) February 3, 2023
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 five years. This index has a fancy name but it essentially represents how the median stock is doing. It provides a broader and more accurate depiction of the stock market than something like the S&P 500. It closed the week at nine-month highs this week, after reclaiming a key level around $600. This level has been a major inflection point in recent years. As Steve points out, the path of least resistance for the median stock is higher as long as the Value Line Geometric Index is over $600.