Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets.

Well, hello and welcome to the Tuesday edition of the DC Today. The S&P and NASDAQ have been up seven days in a row, which is the

longest winning streak in about two years. And so from that big selloff we had had,

as bond yields were going higher near the end of October. And then what has taken place in the last couple days of October

here into the first week of November, you've had quite a significant rally. Now, you know,

let's caveat this a little. The delta between the cap weighted S&P 500 and the equal weighted

or even weighted S&P 500 is pretty big.

You know, what does that mean?

It is a way of saying that the returns are very top heavy, right?

That you could take all 500 companies with an equal weighting in the S&P and get a certain return.

And when it's a meaningfully higher number in the way that the

S&P is constructed with the proportionality of the index being the market capitalization of the

company, it means those large multi-trillion dollar companies, trillion dollar companies,

$700 billion, $800 billion, $500 billion,

those very large companies carry a much bigger weight.

The smaller companies carry a much smaller weight.

And what that means when the delta between that latter methodology versus the even-weighted,

when the delta is large, it means you have a very top-heavy market,

and that is generally much less sustainable.

Nevertheless, good returns for the market.

The Dow itself up 12, 1,300 points in the last seven market days.

Oil was down over 4% today.

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