Today’s Chart of the Day was shared by David Rath (@DJwrath). The Nasdaq led by a wide margin this week, gaining 5.85%, marking its best week since November. It's outperformed the S&P 500 for 12 consecutive days now, which is its third-longest streak of outperformance over the past 25 years. David points out that the Nasdaq is currently testing a key resistance level relative to the S&P 500 (second chart down). We've seen several notable inflections around this level over the past couple of years. Will this level break the Nasdaq's impressive streak of outperformance next week?
Chart of the Day - Friday, March 17th, 2023
March 17, 2023
