This Is The Craziest Chart You'll See Today
In a world of incredulity, to suggest one chart is the "craziest" may seem a little braggadocio but we suspect after reading below, you will agree...
Something very odd is going on.
Since the beginning of May, the S&P 500 has risen 314 points - a significant surge.
However, as the chart below shows, more than all of those gains have come when the US equity market is closed.
Yes, you are reading that correctly: During the US day session, the S&P has lost 5 points; and during the overnight session (from the cash close to the cash open), the S&P has gained 319 points.
Trade accordingly.
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The market is rewarding big companies at the cost of smaller ones. The S&P reflects that.