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Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart shows how NVDA has moved over the past five days. Despite yesterday’s nearly 7% recovery, the stock is still down 10% from its intraday peak last Thursday, wiping out about $350 billion in market value. I’m not predicting a crash, but I wouldn’t be surprised if NVDA starts losing some of its dominance – and you shouldn’t be either. As I explain in the Insight of the Day, this might actually be a good thing.

Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart shows the Bloomberg US Treasury Index over the past year. Typically, US stocks and Treasuries move inversely, but for the past two years, they’ve been moving in tandem. Treasuries are recovering strongly and look ready to break past last year’s peak resistance level. Traders are betting on rate cuts after the recent inflation data, despite Powell’s statements. There’s still plenty of opportunity left in this market.

Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart shows the Equal-Weight S&P 500 index – showing how the S&P 500 looks if every stock has equal weight, not by market cap. This cancels out the effect of dominant market leaders, providing a better gauge of market breadth. The chart shows a bullish wedge pattern forming, signaling a potential breakout higher. With the regular S&P 500 also rising, this rally appears to have real legs.

Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart shows how many of the 30 largest stocks in the S&P 500 now were already in the top 30 years ago. Rewinding just 10 years, only about half were in that league back then. While some market leaders stay dominant for a long time, many underestimate how fast leadership changes. To target emerging market leaders, we must ask the right questions. I explain more in the Insight of the Day.

Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart shows how many of the 30 largest stocks in the S&P 500 now were already in the top 30 years ago. Rewinding just 10 years, only about half were in that league back then. While some market leaders stay dominant for a long time, many underestimate how fast leadership changes. To target emerging market leaders, we must ask the right questions. I explain more in the Insight of the Day.

Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart shows the returns of the current 10 largest stocks both before and after they joined the top 10. Nearly all of their outperformance came before they reached the top. After joining, their returns were lackluster. Their biggest gains came from their journey to becoming market leaders. What does this mean for us as traders? I explain in the Insight of the Day below.

Hey, it’s Ross Givens here with the Chart of the Day. These charts show the relative performance of various indexes over time, like currency pairs but with indexes. Here’s what they reveal: the S&P 500 is outpacing global indexes, U.S. large-caps are beating small-caps, and in small caps, growth stocks are leading value. This insight helps us focus our efforts. It certainly doesn’t mean we should sit out this bull market.

Hey, it’s Ross Givens here with the Chart of the Day. Even as the Nasdaq hits new highs, nearly half of the stocks trade below their 200-day moving averages. The number of advancing stocks versus declining ones is also weakening. This classic divergence means the market climbs higher with less participation. That’s why the S&P 500 and Nasdaq are at all-time highs while the Russell 2000 lags. This isn’t a bearish signal, but it does mean market strength comes from a select group of stocks. And that has obvious implications on our trading strategy.

Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart shows the net new highs over lows for stocks in the Russell 3000 Index – covering over 95% of the U.S. investable stock universe – across one, three, six, and 12-month time frames. You can see that net new highs have outpaced new lows in all these periods. Plus, the shorter the time frame, the bigger the number of net new highs, suggesting increasing bullish momentum. Don’t let the bears sway you. Keep playing the bull market.

Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart shows the net new highs over lows for stocks in the Russell 3000 Index – covering over 95% of the U.S. investable stock universe – across one, three, six, and 12-month time frames. You can see that net new highs have outpaced new lows in all these periods. Plus, the shorter the time frame, the bigger the number of net new highs, suggesting increasing bullish momentum. Don’t let the bears sway you. Keep playing the bull market.