The S&P 500 jumped above 2000 for the first time today as the large cap stock rally continued.
The S&P 500 is now up 9.7% on the year, outpacing the small cap Russell 2000 which is up just 1.7% year-to-date.
The S&P 500 and the Russell 2000 had been following each other in tandem earlier in the year but the two indexes diverged in April with the Russell remaining weak and the S&P 500 breaching numerous new all-time highs during the spring and summer.
The Russell hasn't hit a new all-time high since March and isn't anywhere close to breaking out again.
The S&P 500 is also easily outperforming the large cap Dow Industrials, which are up 4.9% on the year.
The best performing large cap index, however, belongs to the Dow Utilities, up 16.9% year-to-date, with the Dow Transports not far behind having gained 15.2%.
Does it worry you that the S&P 500 and the other large cap indexes continues to hit new highs while the small caps lag?