The S&P 500 (SPY) still needs to gain 17.4% to get back to its all-time high reached in October 2007. But while largecap stocks have quite a ways to go to reach new highs, midcap and smallcap stocks have already gotten there. The S&P Midcap 400 actually broke to a new all-time high earlier this year, and the S&P Smallcap 600 just did it last week. The strength in midcaps and smallcaps over the past six months has gotten less attention than it probably deserves, but maybe the recent breakouts will cause investors to take note.
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