Investor confidence is gaining traction as the momentum factor takes the lead in the US equity markets, driving a positive rally across major indices. This renewed focus on trending stocks is contributing to the upward movement, despite the sideways price action seen earlier in December. However, the disconnect between market breadth and the S&P 500's performance, a phenomenon not seen since 1997, suggests that a limited number of stocks may be propelling the index gains, which could be a point of caution for investors.
The MAX S&P 500 4X Leveraged ETN (SPYU) experienced a notable increase, rising 2.34% to $54.33 at 10:40 AM on Wednesday, December 11.