The S&P 500 never looked better, until of course you realize that five stocks are holding up the average are the only ones in the green. There is an invisible crash happening and not one person in a million notices. Retail is collapsing. Earnings don't matter and P/E ratios are laughable. Companies don't need to be profitable and nothing needs to make sense. Last I saw #Amazon had a PE of 188.
We have become a country of index watchers and index buyers, individual stocks don't matter. The FANGS can hold up a giant index and give people a false sense of security.
What happens when these five stocks drop? What happens when people start selling their indices? Indices represent 25% of the market capitalization, any meaningful selling can result in nothing less than a flash crash. Who will the buyers be?
