Today’s Chart of the Day was shared by Jim Denholm (@denholm_jim). The chart pack shows four of the five largest stocks in the S&P 500 and Nasdaq year-to-date. Despite the recent bounce, Jim points out that some of the largest stocks are still just consolidating within downtrends. $AAPL is holding up better than the rest, considering it's the only one that is above its Q1 lows. The other three are down more than 20% from their highs and have been rangebound all Summer. $MSFT and $GOOG already reported earnings, but $AAPL and $AMZN report tomorrow. Even after today's massive rebound, some of the largest stocks are in need of further repair.
Chart of the Day - Wednesday, July 27th, 2022
July 27, 2022
