Small-Caps & SpaceX Steal the Show 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Scott Brown.
Small-caps relative to the Magnificent Seven are resolving higher from an inverse head-and-shoulders bottom, with the Russell 2000 becoming the first major index to reclaim record highs.
Momentum has also confirmed the move, as RSI has pushed back into overbought territory and the ratio having posted its strongest two-week stretch since July 2024.
This development suggests risk appetite is broadening beyond the market's largest stocks and moving further down the cap spectrum.
The Takeaway: The leadership baton is passing from the market's biggest names to its smallest.
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