Below are the top 20 members of the SPX by weight. The top 10 make up ~20% of the entire index, while the 11-20 make up ~12%, so a combined ~32%.
-With the SPX up 12.3% ytd, it appears the rally is becoming fairly narrow, concentrated as evidence by the performance of only 10 stocks in the top 20 that have gains of more than 10%, while the other 10 are up less than 6%.
-When you look at the names that performed they were very specifically tech and financials, which is no great surprise as they were the 2 best performing sectors last qtr, but whats sticks out like a sore thumb is that energy and consumer names massively under-perform, despite the fact that many like KO, T, MRK etc are mostly within a few % from their 52 week highs. Dividend payers are acting defensive as you would expect, and I guess while they are not helping to fuel the rally to new highs, they are not likely to hold things up if the leadership fails in the coming weeks.
|in the Index||Performance||Div Yld|