Chart of the Day - Monday, May 19, 2025

🏆  Today's Chart of the Day was shared by Donovan (@TheDonInvesting).
 

• The S&P 500 closed higher for the sixth straight session today, shaking off a Friday night tape bomb as Moody’s cut the U.S. credit rating. $SPX is only -3% below record highs after bouncing nearly +20% over the past month.
   
• Donovan points out that the Industrial Sector ($XLI) achieved its first all-time high since February today, marking the first sector to reach record highs since Liberation Day. 
   
• Industrials are also breaking out relative to the S&P 500 on both a cap-weighted ($XLI/$SPY) and equally-weighted basis ($RSPN/$SPY). 
   

The Takeaway: Industrials ($XLI) are officially the first sector across the finish line, with $XLI closing at a new all-time high for the first time since February. As a traditionally risk-on group, this is exactly the type of leadership bulls want to see.