This is why you keep buying.
Source: Dividendology
The $SPX is the most concentrated since 1964.
Restated, it has been 60 years since four stocks have accounted for this big a share of the $SPX. Source: Jim Bianco
The cost to hedge a 10% drop in the S&P 500 reached its highest level since October
Source: Win Smart, Bloomberg
The equal-weighted SP500 relative to the S&P 500 index has dropped to its lowest level since March 2009.
This year, the S&P 500 has gained ~10% while the equal-weighted index rallied just 3%. At the same time, Magnificent 7 stocks have rallied over 50%. Since the ratio peaked in February 2023, the S&P 500 is up ~29% compared to a 7% gain of the equal-weighted index. Meanwhile, the top 10% of US stocks now account for ~75% of the S&P 500, the most since the 1930s’. The market has never been driven by so few names. Source: The Kobeissi Letter
Momentum is the winner YTD 🏆
Source: The Long view
The S&P 500 just posted its best weekly streak in 35 years.
The index has increased in 23 of the last 30 weeks, a joint record since 1989, according to Deutsche Bank. It could thus be that some consolidation is due... Source chart: DB, The Kobeissi Letter
S&P 500 $SPX hasn't declined by 2% or more for 317 consecutive trading days, the longest streak since a 351-day stretch that lasted from Sep 2016 through Feb 2018.
Source: Barchart
Did you know that the S&P 500 has been basically flat vs gold over the last six years? 🤔
Source: Markets & Mayhem, BofA
