S&P “48” = 50% OF S&P 500 INDEX

Headline:
Imbalanced SPX.

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So Much For Diversification Within The S&P 500…As The Top 48 Tickers [as of October 11, 2019] Comprise Just Shy Of 50% Of S&P 500 Equity Market Capitalization.

Of Course…Loaded With Technology Companies [41.96% of Top 48].

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Check Out The 48 “Heavy-Weights” Below…

48 Largest = 49.7564% Of SPX.
452 Others = 50.2436% Of SPX.

Top 2 Tickers = 8.3962% Of Index
Top 3 Tickers = 11.3151% Of Index
Top 8 Tickers = 19.2427% Of Index
Top 17 Tickers = 29.4473% Of Index
Top 29 Tickers = 39.6344% Of Index
Top 48 Tickers = 49.7564% Of Index

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MSFT 4.3260
AAPL 4.0701
AMZN 2.9189
FB 1.7978
BRK.B 1.6554
JPM 1.5067
GOOG 1.4903
GOOGL 1.4774
JNJ 1.4062
V 1.2406
PG 1.2295
XOM 1.1841
T 1.1141
HD 1.0424
VZ 1.0057
MA 0.9994
BAC 0.9826
DIS 0.9503
INTC 0.9362
CVX 0.8944
MRK 0.8761
UNH 0.8531
CMCSA 0.8382
KO 0.8322
BA 0.8132
PFE 0.8104
CSCO 0.8019
WFC 0.8005
PEP 0.7805
WMT 0.6938
MCD 0.6440
C 0.6425
MDT 0.5856
ABT 0.5710
ADBE 0.5480
CRM 0.5315
COST 0.5310
IBM 0.5131
ORCL 0.5082
NFLX 0.5026
TXN 0.4926
PM 0.4921
AMGN 0.4886
PYPL 0.4849
HON 0.4774
ACN 0.4772
NKE 0.4767
UNP 0.4612

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So It Seems…The S&P 500 Is…Now…Primarily A Proxy For Technology.

Might As Well Merge The SPY With The QQQ…As Performance Is Now Virtually Identical…And Has Been For Quite Some Time.

Technology Stocks = The New Market Beta.

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Contact The Author: Dominate@GlobalSlant.com