Q：Hey Sean, I've noticed recently that the Dow and the Russell 2000 have been outperforming the S&P 500 and the Nasdaq. What's your take on this shift?
A：This type of behavior is commonly observed at the end of bull markets, where the underlying strength starts to wane, but momentum and investor sentiment keep pushing the index upwards. In the current market, it's NVDA180.0484 and the NDX25427.2797 that lag, leaving the heavy lifting to small caps and value stocks. If this is truly the beginning of a bear market, SPX6869.69, YM1!48774 and RUT2583.0501 will eventually follow suit.