S&P 600 - This is almost relatable to crypto altcoins in a way where you hear about all these tokens doing well but then you feel like you were holding all the ones that didn't do well. This index tracks 600 smaller cap stocks. As you can see over the past 5 years it's been in a giant channel. It has just kind of cycled without having a long sustained breakout which is what we would see in a true traditional bull market. What this tells us which has been obvious is that a lot of people have derisked, the economy for most doesn't feel as strong, and it's really been like 30 to 50 stocks that have propped up the S&P 500 to keep driving it to higher prices. Some indexes like this are even down because when all the good ones keep getting upgraded they leave the rest behind. This is one of the arguments suggesting we've actually been in a more neutral to bear market for majority of stocks and the downside has already essentially played out and we are waiting for a bull market rally that rises ALL tides not just AI related stocks. Will be curious to see if we can start seeing some of the small cap indexes start moving which would probably align with the long awaited and called for "Alt Season".
