The Nasdaq finally grabbed the baton, closing above its prior high and racing ahead, and Tim Knight says the bulls are fully in control until they are not. But under the surface he keeps flagging the same warning: fewer and fewer stocks are doing more and more of the heavy lifting, with a tiny group, Micron and the other chip names, accounting for a huge share of the year's strength. Market breadth, he notes, is at war-lows even as the indexes print records.
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Chapters
00:00 The Nasdaq grabs the baton
00:53 The S&P finally confirms
01:40 Fewer stocks doing the lifting
02:18 Low volatility and a coming inflection
03:10 Applauding a weak Seagate
03:21 The island reversal short
05:10 Western Digital, the cleaner short
06:16 SpaceX getting long in the...