Chart of the Day: Leaders Rolling Over

While what’s worked (namely the FAAMGs) year-to-date has been rolling over of late, concentration among the S&P 500’s largest 5 positions (FAAMG) still sits way above the previous tech-bubble high (top).

H/T Marketear.com

For one, that’s scary concentration, considering how the market has historically corrected such an imbalance. For another, while the rolling over of these names of late has forever-bullish Wall Street chalking it up to simply “rotation” — a plausible explanation right here, btw — market tops are often formed around such phenomena…
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