Chart of the Day - Thursday, February 15, 2024

Patrick Dunuwila
February 15, 2024

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Today's Chart of the Day was shared by Louis Spector (@EastCoastCharts).

  • The NYSE Composite closed at an all-time high today for the first time since January 12th, 2022.
  • This index contains over 2000 stocks, providing a much broader representation of "the stock market" compared to popular benchmarks like the Dow, S&P 500, or Nasdaq 100.
  • It's emerging from a two-year base within a primary uptrend after recovering from a 22.4% drawdown.

The takeaway: Another important index joined the all-time high club today, except this one is much broader than the others. The path of least resistance is higher for the NYSE Composite if it can hold this breakout above 17,300.

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