RSP - S&P Index Set To Hit 5000 As Bull Run Continues

February, 06 2024 11:44 AM Invesco S&P 500 Equal Weight

2024-02-06 11:44:00 ET

Summary

With the market surging higher since the beginning of the year, bullish investors are drooling over the next significant milestone for the market – S&P Index 5000.
Another interesting facet about the current market is that as the S&P Index approaches a psychological 5000 level, that advance continues to be a function of a relatively small number of stocks doing most of the lifting.
With markets technically stretched, sentiment bullish, and still weak fundamental underpinnings, the index hitting 5000 as a measure of market health is a bit of a mirage.

In September 2021, I discussed how the markets had set its sights on the S&P 500 index hitting 5000. To wit....