Chart of the Day - Friday, November 19th, 2021

...and breakout! Long #FANGAM. pic.twitter.com/DrImR2XAM6

— Brian G (@alphacharts) November 19, 2021

Today's Chart of the Day was shared by Brian G (@alphacharts).  It's a ratio chart of some of the largest stocks in the market vs. the S&P 500. We're talkin' $FB, $AMZN, $MSFT, $AAPL, $NFLX, and $GOOGL. Mega-Cap Tech dominated this week, while Small and Micro-Cap stocks struggled. Brian points out that this equally weighted basket of Mega-Cap Tech darlings is breaking out to fresh relative highs for the first time in more than a year. These 5 stocks collectively represent more than 20% of the S&P 500, so it's not bearish to see these juggernauts reassert their leadership. However, it would be more encouraging if we also had broader participation from Small and Micro-Caps.