The S&P 500 may be hitting a record high, but how much of the market does that actually apply to? And you look at other indexes like the iShares Micro Cap Stock Index, again, you see the same exact pattern here. Down in late 2012, early 2022, bottoms out around the middle part of 2022, the technical recession, the oil price surge, all of that stuff. But since then, micro cap stocks, unlike their big cap counterparts, have been sideways to more noticeably lower ever since then. People were feeling better about the fundamental situation in the economy. They would be looking at micro cap stocks or small cap stocks to become the next big winners. They would be putting money on these shares. And they’re not. They’re avoiding them because the real perception from the stock market is not one in which people are willing to take a whole lot of risk.