Breadth is fracturing.
Look at the spread between sectors hitting 4-week highs versus 52-week highs. Some groups are still riding momentum. Others? Already rolling over.
This is what distribution looks like before most people notice it. The surface stays calm while the foundation shifts underneath.
Markets don't collapse all at once. They erode from the edges inward. Pay attention to what's quietly breaking down while the headlines chase new highs.
Look at the spread between sectors hitting 4-week highs versus 52-week highs. Some groups are still riding momentum. Others? Already rolling over.
This is what distribution looks like before most people notice it. The surface stays calm while the foundation shifts underneath.
Markets don't collapse all at once. They erode from the edges inward. Pay attention to what's quietly breaking down while the headlines chase new highs.
