By
Zac Mannes
Recently, Jim Cramer talked about the "Magnificent 7," the over-weighted mega-cap stocks that are collectively responsible for the lion's share of the S&P's gains for 2023.
A recent graphic from Factset, CRSP, Berstein Analysis (tweeted out by @GRDecter) expands that to the top 10 which make up approximately 11.6% of the then 13% YTD growth of the Index.
This is why the Stock Waves team (Zac Mannes and Garrett Patten) look at the RSP (the Equal Weight S&P ETF) as well as spend so much time examining the sector ETFs and key components of each to see what is really going on "under the hood."
In this latest Mega-Cap "Charts of the Day" video, Zac did a comparative look at this graph, the S&P 500, the RSP and these 10 names, many of which count as completing corrective moves off 2022 lows.
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