FYI: With a late-morning surge in equity prices pushing the S&P 500 above its all-time closing high from 9/20, we wanted to see where individual stocks in the index stand relative to their own 52-week highs. The chart below shows the distance (in percentage terms) that every stock in the S&P 500 is trading from its 52-week high. Overall, the S&P 500 is now within 1% of its 52-week high. For individual stocks, though, the average distance from their respective 52-week highs is actually just over 12%. Also, in case you were wondering, the blue bar all the way to the right represents Nektar Therapeutics (NKTR) which is down 67% from its 52-week high! There may always be a bull market somewhere, but as NKTR proves, there always a bear market somewhere to
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/knocking-on-new-highs-door
