The S&P 500 Index ($SPX) is top-heavy, and has been for a while. That’s been well-publicized by many analysts, including me. But that’s not the issue I’m focused on right now. Instead, it is what’s happening right now, as we near the end of October, the rest of earnings season, and the U.S. midterm elections.
What’s that? The generals at the top are fading fast. And the way the S&P 500 is currently aligned, there might not be many reinforcements to stop SPY, IVV, and VOO, the giant S&P 500 ETFs, from continuing to roll over.
