Chart of the Day - Friday, June 14, 2024

🏆 Today’s Chart of the Day was shared by Grant Hawkridge (@granthawkridge).

• Grant highlights three themes that define the current market environment. For starters, US Stocks continue to dominate the rest of the world. In fact, this was the best week for US Stocks ($SPY) vs. the rest of the world ($ACWX) since February 2022. 

• Secondly, Large Caps have continued to outperform Small Caps by a wide margin. Large-Caps ($SPY) rose +1.58% this week, while Small-Caps ($IWM) fell -1.23%. As a result, the ratio in the middle pane ($SPY/$IWM) closed at its highest level in over two decades.

• Lastly, Growth is trouncing Value again. This has been the best two-week stretch for Growth vs. Value since 2001, with $IWF outperforming $IWD by +8.76% in the last two weeks.

The takeaway: US Large Cap Growth reigns supreme. These trends are nothing new, but that's how trends work—they persist until the last marginal buyer is in.