Today’s Chart of the Day comes from Bespoke’s morning note. The chart shows the monthly % change in the spread between large-cap Growth and Value. Bespoke points out that Value is having its best month relative to Growth in nearly two decades. This comes after 11 straight months of Growth outperforming Value. This is clear evidence of rotation, which is constructive for the broader market in the long-run. Although this rotation probably feels anything but constructive if you’ve been overweight Growth like a lot of folks out there. For more evidence of this, just take a look at the S&P 500’s new 52-week high list. A few weeks ago, that list was dominated by the sexy mega-cap Growth/Tech names. Today, we’re seeing boring old Value/Industrial names like John Deere and Dollar General hitting new 52-week highs. The question that remains – is this a sustainable change in leadership? Or, simply Value’s 15-minutes of fame?