Chart of the Day - Tuesday, July 30, 2024
July 30, 2024
🏆 Today’s Chart of the Day was shared by Jay Woods (@JayWoods).
- Jay points out that the Russell 2000 is suddenly neck and neck with the Nasdaq 100 this year. With $MSFT under pressure after hours, the Russell 2000 has pulled slightly ahead.
- The Nasdaq erased half of its year-to-date gains in just 14 trading days. It was up as much as +22.9% at its peak on July 10th, but it’s currently up +11.7%.
- Over the same 14-day period, the Russell 2000 went from +0.9% to +11.5% (YTD as of today’s close).
The Takeaway: The Russell 2000 could overtake the Nasdaq in year-to-date performance tomorrow after lagging by more than 20% less than three weeks ago.