Chart of the Day - Thursday, December 16th, 2021

Today’s Chart of the Day was shared by Grayson Roze (@GraysonRoze). The chart shows the four defensive sectors of the S&P 500 over the past year - Real Estate, Consumer Staples, Health Care, and Utilities. These four have been the strongest sectors over the past month. As Grayson points out all four are at all-time highs. To be fair, this chart was shared yesterday but all four continued higher today and printed fresh record highs. There's a clear shift from offense to defense that has been going on the past few weeks. Defensive sectors and boring Low-Volatility stocks have become the new momentum plays. This isn't exactly the healthiest leadership, as it represents a general lack of risk appetite among market participants. Regardless of what this says about the broader market, these sectors are clearly working right now and look poised to continue higher in the near term.