The Top 10 companies are now a record 35% of the S&P market cap
https://x.com/zerohedge/status/1783972678849765846....this is why if you think the equity market is doing well just by looking at the S&P500 and extrapolating into stocks in general, you could be massively blindsided.
....the S&P500 is strongly supported by the top10 stocks with considerable moat, they could perform well in spite of recession but it hides a declining market breadth with a significant % of remaining 70-80% underperforming and/or doing less well.
....there are bear markets within an overall bull market, if you understand what that means. An example is the lithium sector, which is in a bear market despite US major indices having hit all time high. S&P500 over the past 1 year registered +23.42% gain, Albemarle (major US lithium stock) however was down -34.54% over the same period. And some major pharma names like Pfizer has plunged -36.85% the past 1 year.
....you only have to be in the wrong sectors and stocks to know/feel the pain knowing that those main indices do not reflect the actual reality facing many stock holders.
....learn to look at the details. This ain't the market we used to know/understand.
