Michael Nadeau

And this is not back to all time highs of the S&P 500, which is interesting because the S&P 500 is back to all time highs.

And it's sort of showing you that there's not like broad breadth, broad participation.

So last Friday, the S&P 500 closed 7.7% above its 50 day moving average.

but only 52% of the components of the S&P 500 finished above their 50-day moving average.

In the past 30 years, the S&P 500 has never had fewer than 55% of its components above their 50-day moving average when the index was at least 7% above its 50.

So it's kind of just, you know, it's a little odd that,

The index is back to all time highs, but mag seven, not all of mag seven is not.

And you're not really getting this broad participation from the rest of the market, which tends to align with like kind of bubbly type periods in the past.

And like of late, we can go to a few of these stock charts.

I mean, just looking at like Sandisk, like some of these memory stocks.

Oh, that's true.

Right, right.

So, you know, they're...

this is a big business.

It's not a penny stock.

It's up 200% in five weeks.

That's a huge, huge move.

The memory stocks we've been seeing just absolutely rip as well.

Like SanDisk is up 540% year to date, which is pretty wild.

We've seen Micron, another memory stock, up 130% or so since April 1st.