Today's Chart of the Day was shared by Michael Santoli (@michaelsantoli). The table shows the top-performing stocks in the S&P 500 month-to-date. The S&P 500 is up 11% so far in November, putting it on track for the second-best monthly gain in the past decade. Michael points out that this post-election rally has been unique because it's been led by long-term laggards rather than the usual suspects like Mega-Cap Tech. As you'll notice, many of these stocks are Energy/Oil-related names that are still down double-digits this year. So is this a junk-led rally? You could call it that, but that would dismiss how positive this is for the broader market in the long-run. It's constructive to see leading sectors like Tech take a breather while lagging sectors like Energy play catch-up. As the great technician Ralph Acampora once said, "rotation is the lifeblood of bull markets."
Chart of the Day - Wednesday, November 25th, 2020
November 25, 2020
