This chart shows our Top 20 stocks (in blue) over the XJO. From this it is easy to see that the Top 20 stocks influence the Top 200 very heavily and the other 180 stocks inside the Top 200 have virtually no influence.
What it indicates is if you aren't invested in the Top 20 (ie the ones doing well) then the chances are anything outside this is not performing in the way of capital gains. Divedends not taken into consideration but from this you can see where the money is going.
It is nothing new to most of us here but for those who don't use charts it might be interesting as it indicates there is more and more demand for the safer higher capped stocks than risking money in the rest of the market. We are becoming more and more risk adverse is the trend.
