The $SPDR S&P 500 ETF(SPY.US)$ keeps making new highs.
This is great for Big Tech investors, but not so much for investors in other sectors of the market. When bull markets reach their final stages, investors sell other securities. They put their money into investments that are considered to be safe, like the Big Tech stocks.
As money flows out of cryptos and penny stocks, it’s been going into Big Tech. This is why stocks like $Microsoft Corp(MSFT.US)$, $Amazon.Com Inc(AMZN.US)$, $Facebook Inc(FB.US)$, $Alphabet Inc-CL C(GOOG.US)$, $Apple Inc(AAPL.US)$ are moving higher. But this narrowing of the leadership will eventually be bearish.
Together these companies constitute more than 20% of the S&P 500. The rest of the stocks in the S&P 500 aren't doing as well.
This chart shows the $Invesco Exchange Traded Fd Tr S&P 500 Equal Weight Etf(RSP.US)$. In this ETF, all of the stocks in the S&P 500 are equally weighted. It shows that outside of Big Tech, the rest of the market isn't performing as well.
