Rotation Reaches the Dow π The Chart Report
Chart of the Day
π Today's Chart of the Day was shared by Frank Cappelleri.
After significantly lagging its peers, the Dow Jones Industrial Average ETF (DIA) broke out to fresh all-time highs today while posting its fifth-best day of the year.
Frank notes that the measured move from the recent base breakout projects to 550, implying roughly 6% upside from current levels.
Today's action highlights broadening market participation into sectors such as Healthcare, Financials, and Industrials, with the Nasdaq being the only index to finish lower.
The Takeaway: New highs in the Dow reinforces the case for healthy rotation into non-Tech areas of the market.
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