You realize the saying “a rising tide lifts all boats”? It couldn’t be farther from the reality because it issues the current stock market. The S&P 500 is nearly flat, but in case you take an in depth look, 337 of its element shares are down. The index is just being held up by a 1% acquire from Apple and minor positive factors from the opposite four shares that comprise 20% of its total worth. The dearth of breadth has been a constant function of the restoration over the past a number of months.
FINSUM: Buyers aren’t expressing any diploma of bullishness in regards to the financial system, which might be mirrored in breadth. Frankly, all of the latest positive factors appear to be easy momentum bets on a small handful of shares, making the entire restoration really feel hole.
- S&P 500
- bear market
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.