The $SPX squeezed out a 2% gain last quarter—smallest move since late 2021. Meanwhile, small caps got hammered. Russell 2000 down 7.5%, first red quarter in over a year.
This kind of divergence usually tells you something. Big names holding the line while the rest of the market rolls over? Classic late-cycle behavior. Breadth matters more than headlines.
Don't mistake a flat index for a calm market. Beneath the surface, things are shifting.
This kind of divergence usually tells you something. Big names holding the line while the rest of the market rolls over? Classic late-cycle behavior. Breadth matters more than headlines.
Don't mistake a flat index for a calm market. Beneath the surface, things are shifting.