The indices seem to be disconnected from the broader markets they supposedly represent. Not only does the DOW rise disporportionately on a few, but the broader market will be mostly down and the QQQ and S&P 100 still show increases. I’m convinced the indices have taken a life of their own due to number of “index” funds and chronic investment of 401Ks.
For the indices, and in particular, the DJIA which is hovering at 14,000, it’s like watching the reporting of median home price. It keeps going up, but a smaller and smaller segment of the market is all that is producing.
