Chart of the Day - Thursday, January 15, 2026

🏆 Today's Chart of the Day was shared by Ian McMillan (@the_chart_life).
 

• Small-Cap Tech ($PSCT) relative to Large-Cap Tech ($XLK) is showing early signs of a trend reversal, as the ratio pushed to new 52-week highs today.
   
• After a multi-year downtrend, it has reclaimed its 200-day moving average and broken above well-defined resistance from late last year.
   
• Momentum has also confirmed the move, as RSI entered overbought territory for the first time since July 2024.

The Takeaway: While recent narratives have focused on “rotation” out of Technology, the chart suggests this is more of a market-cap shift, with capital increasingly favoring smaller names within the sector.