S&P 500 price levels to trade

[rimshot]

Facebook Inc., Amazon.com Inc., Netflix Inc. and Google’s parent, Alphabet Inc., combined with Microsoft Corp. and Apple Inc. account for 38 percent of the S&P 500’s gain from the Feb. 8 low to Wednesday August 8, 2018 according to data compiled by Bloomberg.

These stocks collectively produced 19 percent of the index’s gain in the six months before its latest record, set Jan. 26 2018.

Wednesday’s close was 0.5 percent below the January high for $SPX.

Concentration of net buying in a small # of heavily weighted components in the calculation of the index daily price value has dramatically increased over the 2nd half 2017 period. Be vigilant.