The equal-weight $SPY is now lagging the market-cap weighted version by the widest gap since 2002.
What this tells us: concentration risk is real. A handful of mega-cap names are doing all the heavy lifting while the average stock is getting left behind.
This kind of divergence historically doesn't last forever. Either the leaders pull back, or the laggards catch up. Worth watching how this plays out—especially if we see any rotation into broader market participation.
What this tells us: concentration risk is real. A handful of mega-cap names are doing all the heavy lifting while the average stock is getting left behind.
This kind of divergence historically doesn't last forever. Either the leaders pull back, or the laggards catch up. Worth watching how this plays out—especially if we see any rotation into broader market participation.
