Strangely, and unexpectedly equities have defied their topping patterns with respect to the M2 money supply Things were looking good here until about a couple of months ago, but now the patterns have been wrecked.
Lastly, the bad breath that persisted for so many months has temporarily abated. The equal-weighted S&P 500 has, in recent weeks, managed to outperform the regular S&P 500, illustrating the better-distributed strength of the market. Judging from the overall behavior of this chart, however, I suspect this is going to change very swiftly, and once again a handful of stocks are going to be doing all the heavy lifting.
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