Wild stat: Over 50% of $SPX stocks are trading below their 200-day moving average, yet the index itself is near 52-week highs.
The only other time we saw this? The Dot Com Bubble.
This is classic narrow leadership. A handful of mega-cap names are carrying the entire market while the average stock is struggling. Breadth is terrible.
When participation is this weak and concentration this extreme, it's worth asking: what happens when those few leaders finally stumble?
The only other time we saw this? The Dot Com Bubble.
This is classic narrow leadership. A handful of mega-cap names are carrying the entire market while the average stock is struggling. Breadth is terrible.
When participation is this weak and concentration this extreme, it's worth asking: what happens when those few leaders finally stumble?
