Warning about the continuous record highs of the S&P 500 index, the decrease in rising stocks is becoming apparent.

June 21, 2024 2:11 JST

30% of S&P 500 stocks hit the lowest level in a month, while only 3.2% reached their highest level.
"Everything depends on Nvidia and Apple" - Mr. Slasher.

Except for the major high-tech companies that continue to push the S&P 500 stock index to record highs, the market seems to be running out of steam.
While the S&P 500 continues to reach new highs, the number of stocks participating in this year's rally is decreasing. According to data compiled by Bloomberg until last weekend, nearly one-third of the index's constituents hit a one-month low in the past month. This is significantly higher than the number of stocks reaching new highs. In fact, only 3.2% of companies, such as Apple and Nvidia, reached a one-month high. Nvidia recently surpassed Microsoft to become the world's largest company by market capitalization.