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<p>In the late 1990s, an increasingly fewer number of stocks were responsible for majority of the gains in the stock market. To capture this phenomenon, we created the Gorilla Index, a group of only 17 stocks that accounted for over 25% of the market-capitalization of the S&amp;P 500. We warned that a breakdown in this group stocks would be an red flag that a bear market may have begun. This index broke through key support levels in May 2000, just two months after the market peak. <br><br>Today, a similar dynamic has developed, except for <em>even fewer</em> stocks account for an <em>even greater</em> share of the S&amp;P 500's market-capitalization. And as was the case in the Tech Bubble, where these stocks go, the rest of the market will undoubtedly follow...</p>
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