"Weekends don’t count unless you spend them doing something completely pointless."
-- Bill Watterson
Yesterday, the S&P 500 hit a third consecutive all-time high in a row, whilst the Nasdaq 100 also hit a new all-time high. So, is leadership still narrow, i.e. are these all-time highs dominated by a few stocks such as the Mag 7? As the chart below shows, the answer to that question is a loud and clear NO! The upper clip shows the Invesco S&P 500 Equal Weight ETF (RSP), whilst the lower clip illustrates the fortunes of the First Trust NASDAQ-100 Equal Weight ETF (QQEW). Both reached new ATHs yesterday, indicating broad participation.
