Chart of the Day - Wednesday, March 25th, 2020

Today’s Chart of the Day was shared on Twitter by Dan Nathan (@RiskReversal). It’s a chart of Amazon ($AMZN) over the past five years. Amazon has held up relatively well throughout the recent decline. Both Amazon and the S&P 500 last closed at an all-time high on February 19th. As of today’s close, Amazon has fallen from those highs by about 13% while the S&P 500 has fallen twice as much (26.89%). Dan points out the stock’s multi-year uptrend remains intact despite the historic sell-off in the broader market. Amazon is one of the most important stocks in the market. It is by far the largest component in the Consumer Discretionary sector, and it’s the third-largest component in the S&P 500. There aren’t a whole lot of positives to this market. However, As Dan points out, it’s “constructive” to see one of the biggest players in the market exhibit relative strength and maintain its long-term uptrend.