Some all-time highs: Alphabet Microsoft Booking Hldgs TJX P&G Walmart AFLAC Ameriprise Moody's McKesson Boston Scientific Regeneron Motorola Roper Avery Dennison @CNBC

Concentrate: our latest report, as usual co-authored with @KevRGordon, is now published in which we dissect market performance at the index level, but also under the surface, in a “tale of two markets” www.schwab.com/learn/story/hard-to-concentrate-top-heavy-market

S&P 500 Momentum Index is now up by nearly 60% year/year, in upper end of historical range ... only consistent with rebound from pandemic bear market and climb in late 1990s [Past performance is no guarantee of future results] pic.twitter.com/tnicv8pOm3

The top 5 holdings in the S&P 500 now make up 27% of the index, the highest concentration we've seen with data going back to 1980. bilello.blog/newsletter pic.twitter.com/SvcpfMZ5iV