Chart of the Day - Friday, January 23, 2026

January 23, 2026

The three major value groups are setting up for a synchronized breakout.

In Materials $XLB, it is no longer just about metals. Chemicals and agriculture stocks are starting to perk up as well.

In Energy $XLE, bellwethers like $XOM are already trading at new all-time highs, even… pic.twitter.com/9iUB0I1pjv
— Ricardo Sarraf (@nullcharts) January 23, 2026

🏆 Today's Chart of the Day was shared by Ricardo Sarraf (@nullcharts).

The three major value sectors are all setting up for structural breakouts, led by Materials ($XLB) after registering new all-time highs today.
Since Technology peaked in October, these groups have emerged as relative leaders, with this week marking the longest stretch of growth underperformance versus value ($IWF/$IWD) in nearly a year.
Despite being traditionally defensive sectors, broad participation and coordinated breakouts favor internal rotation rather than a weakening risk backdrop.

The Takeaway: The market is showing a shift toward value, with multiple sectors gaining momentum and participation expanding across the board.

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