Top 5 Companies as a % of the S&P500 is close to the highest in history

by SpontaneousDisorder

(at least the history on this chart, just realized the title could be slightly misleading)

So the last time it was this high was during the dot com bubble. The stock bull market is narrow with fewer participants rising in value.

This is another way to look at this breadth. The Equal weight S&P500/S&P500 (which is basically market cap weighted). This ratio has been plummeting.

schrts.co/JzAWkskW

Another look at divergence. Look at the divergences leading up to the 2000 and 2007 peaks….