Another NVDA chart
Source: zerohedge
Nvidia $NVDA hit a new all-time high today of $1,166 and has passed Apple to become the 2nd largest holding in the S&P 500.
$SPY $NVDA $AAPL Source: Charlie Bilello
Best May for the S&P 500 in 15 years.
Looking at the 10 best monthly returns ever in May showed the future returns were quite impressive. When May return was above 4%, the rest of year up was double the average year (10.5% vs 4.9%) and June was up 1.0% on average vs negative. Source: Carson, Ryan Detrick
Low-volatility regimes can last longer than you think.
Source: Mark Ungewitter
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
