As mentioned in an earlier tweet, the S&P 500 is going to take it right down to the wire regarding whether it can close at a new all-time high or not, and extend the length of the bull market putting it into number two all time.  With a half hour left in the session and the week, the S&P 500 trades within 0.5% of an all-time high and less than a point from a new closing high.

S&P 500 070816

In terms of participation, strength has been pretty broad based.  The chart below shows the S&P 500 Equal-weighted index going back to 5/21/15 as well.  Under the method of giving each stock an equal weight in terms of performance, the S&P 500 still has further to go than the market cap weighted index before taking out its all-time high (1.7%) and has yet to even take out its high from early June.  That said, while a modest disparity between the two exists, at this point it hardly fits the standard of egregious.

S&P 500 Eq Wgt 070816


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