Growing List Of Lagging Large Cap Stocks

Last week the list of new 6-month relative performance lows expanded from 49 to 56 while the new high list dropped from 18 to 7. This isn't the type of price action you'd expect with several major indices (Nasdaq 100 NDAQ and S&P 500 SPY) hitting multi-month highs. Last week I wrote about the lack of strong performance for the average large cap stock relative to what the Index was doing. In the table below we can see a closer look at just how biased the relative performance data is towards stocks under-performing compared to those keeping up with the Index.

The new relative performance high list is essentially just a few tech stocks and a stray health care stock. Google GOOGL and Microsoft MSFT have accounted for a large bulk of the YTD gains in the S&P 500 as mentioned in last week's note.

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