From TheStreet:
The big stock market indices haven’t really gone anywhere this summer. They are have been hovering just shy of all-time highs since May.
While that’s just fine for stocks that have already participated in the earlier upside that this market has enjoyed this year, it’s a totally different story for the stocks that haven’t. Nearly a third of all S&P 500 components are actually lower now than where they started the year. Many of them are down a lot: 1-in-6 S&P components are down 10% or more this year.