Second Place — But Not for Long?🥈

Today's number is... 2nd

That’s where the Growth vs. Value ratio now sits — just below its all-time high from December 2024.

Here’s the chart:

Let's break down what the chart shows:

• The black line is the relative strength chart of Growth (IWF) vs. Value (IWD).

The Takeaway: This is one of the most important charts in the world right now.

Growth has the ball — and it’s driving straight into resistance.

The Growth vs. Value ratio has returned to its prior all-time highs from December 2024.

It’s spent nearly five years forming a massive base-on-base continuation pattern — and now it’s pressing right up against the top of that structure.

If Growth can punch through here, it clears the way for a fresh leg of outperformance.

And that has major implications for where capital flows next.

A breakout would signal a powerful shift toward future earnings, lower inflation pressure, and more speculative appetite.

That’s when Tech, Discretionary, and Innovation stocks lead — and bull markets accelerate.

It also tells us something deeper: investors are moving out the risk curve again.

But if this ratio stalls or reverses? That says the value regime isn’t done yet — and those stocks may still have something to say.

Either way, this level is a decision point for leadership and capital allocation into the year-end.

What happens here could reshape the entire second half of 2025.

Let me know! 

Grant Hawkridge | Chief Aussie Operator, All Star Charts

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