Market divergences can lead investors to chase high flying stocks at a peak.
As we wrap up May, we find that key market indices are moving in opposite directions. While the NASDAQ Composite has made up much of its loss from 2022, many large segments of the U.S. stock market represented by benchmarks like the Dow Jones Industrial Average, NYSE Composite, S&P 400 Midcap Index, Russell 2000 Small Cap Index are actually at losses for 2023. This market anomaly is called, “index divergence.”
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