Quote:
Originally Posted by lewdog
Sensing a false rally?
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This action looks healthier to me. The rally is broadening. It’s just rotating out of it’s defensive large cap & tech positions it’s been hiding out in. Buying stuff like Kohls and Ulta beauty (both up 5%) that got sold off big when we shutdown.
You can see this if you look at RSP an equal weighted S&P 500 index. It's up 2% so are the small caps. Apple, Amazon, and Microsoft are 14% of a market cap weighted S&P 500 alone. It takes a ton of 20 billion cap Chipotles doing well just to offset 1 Microsoft being down w/ a 1 trillion dollars market cap.