The stock market may be down this year, but the average stock in the S&P 500 has actually risen.
After a 2015 in which the average stock underperformed the index, quite the opposite condition is transpiring this year. The S&P has slid nearly 3 percent, yet the average move for an S&P 500 stock Is a 0.1 percent drop. And 241 of the index's 504 issues are green for the year.
Some view this as a potential reason for optimism.
"One good thing I'm seeing out there is that the breadth is expanding," Eddy Elfenbein of the "Crossing Wall Street" blog said Tuesday on CNBC's "Power Lunch." "We're seeing a broader rally … that should bode well for the next several weeks."