Breadth tells you more than headlines.

Look at how many stocks within each sector are actually making new highs—both 4-week and 52-week. It's the difference between "Tech is rallying" and "three mega-caps are rallying while everything else is flat."

Narrow leadership eventually breaks. Wide participation tends to last. This is one of those charts that separates real strength from surface-level noise.

Market internals > market narratives.