The spread between Sp500 (black line index) and SP500 Equal Weighted (brown line index) is at an all-time high. In particular, the recent nosedive of the SP500 Equal Weighted (brown line index) perhaps signals an excessive relative appreciation of the major big caps including obviously the magnificent 7.

We are certainly in a situation that hasn’t been seen since at least 25 years old or from the great bubble at the end of the century…

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