🏆 Today's Chart of the Day was shared by Duality Research (@DualityResearch).
- The S&P 500 bounced nearly +1% on Friday but still finished the week down almost -2%. Duality notes that breadth was very strong today, with 447 stocks advancing — the most since May.
- Four of the eight largest stocks ($NVDA, $MSFT, $AVGO, and $TSLA) all dropped by roughly -1% or more today, as rotation out of the Mega-Cap leaders continued.
- A surge in breadth like this is generally bullish, but the Mega-Caps need to stabilize for the index to see a sustained rally. The bench carried the team today, but the MVPs need to get back in the game for the win.
The Takeaway: Breadth was impressive today, with 447 stocks closing higher, but a durable rally will ultimately require participation from the top of the index.
