A group of five stocks have gotten so big, they are essentially becoming the stock market

Does that mean everything else was down? Of course not. In the second quarter, 313 of the 500 were up, 188 were down. But some very large companies had some big losses.So it can work in reverse. The biggest companies can also drag down a market cap weighted index."A lot of the super big-caps are continuing to grow, which is surprising because when you get that big it's harder to grow," Howard Silverblatt, who tracks indexing trends for S&P Global, told me.

Wrong. The S&P 500 would be flat. That's how powerful the biggest names have become. That's how much the world is willing to pay for growth. At any price.

Time for stock splits so those who cannot afford those huge long run ups can afford to buy individual stocks.

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