🏆 Today's Chart of the Day was shared by Larry Thompson (@hostilecharts).
- The Equal-Weight S&P 500 ($RSP) broke out to all-time highs yesterday for the first time since October and confirmed the move today with strong follow-through.
- The traditional index ($SPX) also achieved an all-time high today, but it has notably lagged Equal-Weight and Small Caps since the November low.
- Breadth has been sketchy for much of this bull market, but with a broad basket like $RSP leading the charge to new highs, one of the major pillars of the bear case is starting to crumble.
The Takeaway: While the S&P 500 continues to flirt with record highs, the equal-weight version is already there, with $RSP seeing a confirmed breakout over the past two sessions.
