To put things into perspective: The bulk of the S&P 500 performance came from the 5 tech heavyweights Amazon, Apple, Microsoft, Alphabet, and Nvidia. The tech combo gained 27% YTD. The S&P 495 has gained 6% this year, while the S&P 500 Equal Weight is only up 5.6%. Irrespective of this, Goldman has calculated good starts to the year in the first 5 mths, showing above-average 2H performance for the remaining 7 mths. Since 1950 there have been 21 episodes when the S&P 500 was up more than 10% by the end of May. Out of these, the only 2 instances when the S&P 500 was down in the rest of the year were 1987 (-13%) and 1986 (-0.1%) i.e. the S&P 500 was up ~90% of the time.
