Chart of the Day - Friday, March 5th, 2021

Today’s Chart of the Day was shared on Twitter by Willie Delwiche (@WillieDelwiche) It's a weekly candlestick chart of the equal-weight S&P 500 ETF, $RSP, over the past three years. Despite a rocky week, Willie points out that the equal-weight S&P 500 closed at a fresh weekly high today. This speaks to the ongoing rotation we've seen recently. Heavily weighted Tech stocks have seen some profit-taking, while the left-for-dead areas of the market, like Energy and Financials, have come to life. In a comment to The Chart Report, Willie said, "Even with the rotation away from Tech towards cyclicals, investors are not becoming defensive. Instead, they're finding and following the new leaders."