Broad Based Breadth

One aspect of the rally in stocks this year that we can’t stress enough is how strong the breadth of the rally has been. Besides the fact that the equal-weighted S&P 500 is outperforming the market cap weighted index by close to three full percentage points YTD, the vast majority of S&P 500 Industry Groups are also either right at or very close to YTD highs. The table below lists S&P 500 Industry Groups that, along with the S&P 500, hit YTD highs so far today. Of the 60 Industry Groups, 26 of them hit YTD highs today and five of them are already up 20% YTD!

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In addition to the 26 Industry Groups above, another 16 Industry Groups traded within 1% of a YTD high today and three of those are also up over 20% YTD. Adding both lists together, 70% of S&P 500 Industry Groups either traded at or came within 1% of hitting a YTD high this morning. That’s broad! 

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