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When the book on 2023 closes, extreme sector divergence will surely be considered one of the major plot points
Technology and Communication Services are each up more than 40% YTD, while five of eleven sectors are in the red on the year. Source: Bespoke
In case you missed it... The SP500 Equal Weighted Index is now down more than 5% this year...
Source: Barchart
Eli Lilly exceptionalism... $LLY vs. rest of Pharma and S&P 500 Healthcare stocks
Source: Goldman Sachs, TME
Here’s a look at the four 10%+ corrections we’ve had in the last two years
Just registered 4 last week. How deep will this one end up being? Source: Bespoke
The S&P 500 is now down over 10% from its high in late July, the largest drawdown thus far in 2023
Is such a decline unusual? Not at all according to Charlie Bilello. A 10% intra-year drawdown has happened every 1.6 years on average.
4 of Wall Street's biggest banks have recently plummeted to levels not seen since the devastating March Banking Crisis
YTD losses are staggering, with 📉 ranging from -15% to -24% causing significant concerns for investors & overall market Source: The Coastal Journal
Magnificent Seven? How about Magnificent Mondays?
While the S&P 500 is up over 10% YTD, without Mondays it would be fractionally lower. Source: Bespoke
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