Chart of the Day - Tuesday, November 1st, 2022
November 1, 2022
Today’s Chart of the Day was shared by Yuriy Matso (@yuiriymatso). It's a tale of two indexes. The Dow had a record-breaking month in October, gaining 14%. However, the Nasdaq wasn't nearly as impressive, gaining just 4%. Yuriy points out that the Dow has retraced 50% of its decline, while the Nasdaq has only retraced 10%. The Dow simply has more exposure to what's working (Industrials, Financials, Health Care, Energy), and less exposure to what's not working (Tech and Communications). On the other hand, the Nasdaq is heavily weighted towards the laggards like Tech and Communications. Now just imagine if they hadn't kicked Exxon out of the Dow a couple of years ago...