Market Concentration High, But History Shows Rally May Continue
-
Extreme market concentration today - 10 largest stocks account for 33% of S&P 500 market cap
-
Goldman Sachs analysis shows markets often still rally 12 months after concentration peaks historically
-
Macro outlook more significant than concentration for market direction
-
Momentum stocks do well as concentration rises, but not overextended now
-
History shows "catch up" more common than "catch down" after concentration peaks