The headlines of the S&P look great, masking a lot.
But, small-caps (IWM) are down since March, while the Nasdaq (QQQ) and S&P (SPY) have risen. During Q1, Nasdaq was down on a YTD basis, and the giant Apple has still returned only half of the Nasdaq and the S&P.
Further, energy stocks are still down over 30% from their all-time highs.
Last, and probably…