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Every once in a while you get a day in the market that makes your head explode.
Today is one of those days for me.
As a chartist, periods of heightened volatility (both to the upside and downside) are pure gold.
There’s interesting data everywhere that I can make charts with.
But making the charts is the easy part.
What’s difficult is knowing what data is worth charting.
One of our Exhibit A clients told me this a few weeks ago.
Here’s the transcript, literally, from the Zoom:
“Matt, I don’t pay you because you make charts that are in my colors and have my logo. An artist is not special because they know how to paint. What makes an artist special is that they know what to paint. That’s why I pay you.”
Mic drop.
He understood the game and articulated it in a way that I never could (that’s why I stick to charts, by the way).
Where am I going with this?
There’s a lot of data worth painting today.
Staples are having their worst day vs the broader market since 4/3/2025.
SMH is down 9%.
Broadcom just erased over $400 billion of market cap in two days.
Technology (XLK) is down over 5%.
I could keep going. I could also start charting all of this.
But today there’s one stat that I feel is worth sharing with you all.
And here it is:
As of 2:45 PM EST, the S&P 500 is down 2.1% but 51% of stocks are ADVANCING on the day.
Here’s the scatter. Feast your eyes.
This is extremely rare and it’s only happened two other times: 4/19/1999 and 4/12/2000.
Am I saying this time is like that time?
No. This is data, I’m just the messenger.
But wow, things are feeling wild out there.
There’s so much data worth painting and I’m over the moon.
To another week with data worth painting, I hope you all have an amazing weekend. I will talk to you soon.