That's pushed tech heavyweights and Club names such as Apple , Nvidia , Microsoft and Broadcom higher and the S & P 500 to record highs along with them.
The market-cap weighted S & P 500, which we report on all time, has gained more than 4% since May 30.
But, a version of the index that assigns each company the same influence, known as the S & P 500 Equal-Weight , has advanced only around 1%.
The divergence helps explain why our trusted momentum indicator, the S & P Short Range Oscillator , has been closer to oversold territory than overbought during the run higher.
Recent years haven't been so kind to them, with the stock underperforming the S & P 500 considerably over the past three years.
Persons:
That's, Morgan Stanley, Wells, Banks, Abbott, We've, Lingo, Stanley Black, Decker, DuPont, DuPont —, Ed Breen, Lori Koch, Vimal Kapur, Jim Cramer, Darius Adamczyk, haven't, Jim Cramer's, Jim, Johannes Eisele
Organizations:
Apple, Nvidia, Microsoft, Broadcom, Wall Street, Federal, Abbott, Abbott Labs, Mizuho Securities, DuPont, Honeywell, Systems, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Wall, Afp, Getty
Locations:
Dover, Wells Fargo, Missouri, Abbott's, U.S, Decker, New York City