But Brown Brothers Harriman rejects the notion that the S&P 500 is looking “top heavy” these days. Instead the firm slices the index into groups of 50 stocks by overall size and concludes the biggest stocks aren't throwing the overall index out of whack.
April 25 (Bloomberg) -- U.S. stocks look reasonably priced when the value of companies is measured against the size of the country's economy, according to David R. Kotok, Cumberland Advisors Inc.'s chairman and chief investment officer.
The stock market's whipsawed moves this week have sent the S&P 500 /quotes/zigman/3870025 SPX bouncing around a near-term trend - the 50-day moving average, or the average of the last 50 days of trading.
The Chicago Board Options Exchange S&P 500 Implied Correlation Index rose 17 percent in 10 trading sessions to 68.14 today, rebounding from a 10-month low and posting the biggest gain since May, data compiled by Bloomberg show.