It's wild that the S&P 500 is less than 2% off its high when transports and consumer stocks look like this

Sep 25, 2026 · 2:39 AM UTC

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Replying to @firstadopter
Do you think it’s because of pumping?
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Replying to @firstadopter
Those two sectors comprise just 10% weight of the index total, Tae.
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Replying to @firstadopter
Transports and the consumer used to be the tell for the index, and now the index is basically a handful of capex stories.
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Replying to @firstadopter
Divergence like this usually resolves by the S&P coming down to meet the weak sectors, not the other way around. Do you think this time is different?
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Replying to @firstadopter
Not strange at all... That's what a cap weighted index does.
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