Chart of the Day - Monday, June 26, 2023

Today's Chart of the Day was shared by Mark Newton (@MarkNewtonCMT). It's a daily candlestick chart of the Dow Transportation Index year-to-date. The S&P 500 kicked off the week on a sour note, falling -0.45%. Mega Cap leaders were largely to blame, as most stocks in the S&P 500 closed higher. Mark points out that the closing print in the S&P 500 doesn't really reflect some of the bullish developments that took place today. For starters, the Equal Weight S&P 500 ($RSP) closed higher by +0.61%. Secondly, the Dow Transportation Index ($DJT) rose +1.39% to a fresh three-month high. Lastly, the Equal Weight Technology ETF ($RSPT) rose +0.17%. There was plenty for the bulls to embrace in today's session, despite the weakness in the S&P 500.