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Today, stocks are rallying to fresh record highs. Though, that’s not necessarily news; it’s been happening all year long. But I’d argue that today is much more than just your average “good day” on Wall Street. In fact, this could be the Street’s best day of 2024.

Now, that’s not because stocks are posting their biggest gains to-date; they aren’t. The S&P 500 is up 0.7%, which – while good – isn’t even August’s biggest daily gain.

Why, then, do we believe today is the best day for stocks so far this year?

Because they are soaring – even as Nvidia (NVDA), the market’s most important stock, is falling.

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