Market Digest: OKE, ABBV, QSR, NET

Argus

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May 14, 2026

Summary

While the ample headdress indices marque all-time highs time aft day, determination are method cracks everyplace else. This includes secondary indices, sectors, industries, and idiosyncratic stocks. We person talked astir mediocre marketplace breadth, and possibly the lone happening we tin accidental is that astir wealth is invested successful the mega-cap indices, truthful determination is nary occupation until determination is. We perceive it's antithetic this clip -- and for present it surely is. How agelong the AI enactment volition past is unknown. So arsenic we ever do, we'll permission it up to price. The NYSE and the Dow Jones person not exceeded their February all-time highs (ATHs). The S&P MidCap 400 (MDY) was past astatine an ATH connected May 6, followed by a bearish engulfing candlestick and a imaginable mendacious breakout. The S&P Small Cap 600 (SML) besides peaked connected May 6, has been down for 4 of the past 5 days, and is sitting connected important short-term enactment astatine its 21-day exponential moving average. The Nasdaq 100 has 19% of its issues astatine ATHs, the S&P 500 has 8%, the MDY 5%, and the SML 4%. Some 8% of the QQQ's holdings are astatine 52-week lows, 9% of the S&P 500 and the MDY, and 5% of the SML. The QQQ has 20% of its issues astatine a one-month high, the S&P 500 has 12%, the MDY 7%, and the SML 6%. Yet 24% to 27%