PY - The Rotation Into The Broad Market Accelerates

2024-03-18 22:50:00 ET

Summary

• Three weeks ago, the year-to-date performance numbers for the S&P 500 Equal Weight index and the S&P 500 market cap-based index were 2.48% and 6.69%, respectively, a difference of 4.21%.
• As of last Friday (below), those numbers are 3.81% and 7.28%, for a difference of 3.57%.
• While this does not look like a big move, it really is, since it involves trillions of dollars. Basically, it tells us that money has flown out of the tech sector and into the broad market.

When I included the chart below a mere three weeks ago , the year-to-date performance numbers for the S&P 500 Equal Weight index and the S&P 500 market cap-based index were 2.48% and 6.69%, respectively, a difference of 4.21%....

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