Chart of the Day - Tuesday, November 14, 2023

Today’s Chart of the Day was shared by Mike Zaccardi (@MikeZaccardi). It was a great day for stocks across the board, but Small-Caps really stole the show. The S&P 500 ($SPY) had its best day since April, rising +1.94%, but Small-Caps did nearly 3x better. The Russell 2000 ($IWM) surged +5.49%, outperforming $SPY by a margin of +3.55%. Mike points out that this was the best day for Small-Caps vs. Large-Caps since March 2020 and the 7th best day since the inception of $IWM in 2000. One day doesn't make a trend, and the trend still favors Large-Caps, but... 'tis the season for Small-Cap outperformance.