‼️The US stock market has never been weaker under the surface
Only 17% of stocks outperformed the S&P 500 in December, the lowest share on record
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Just 17% of stocks outperformed the S&P 500 in December, the lowest share since the data began tracking 38 years ago, according to BofA analysis. In other words, 83% of stocks dropped by more than the S&P 500's 2% decline so far this month.
In effect, the equal-weighted S&P 500 index is down 6.6% this month, 3 times more than the S&P 500 decrease of 2.2%.
Also as noted in the below market recap, most of the S&P 500 sectors are deeply negative. In fact, 8 of 11 sectors have fallen by over 5% with 2 of them entering a correction territory (+10% decline).
The market has never been weaker under the surface. Watch this development closely in the following days.
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