Market breadth keeps deteriorating. That's the real story right now.

When fewer and fewer stocks are carrying the indices higher, you're watching concentration risk build in real time. It's not about being bearish—it's about recognizing fragility.

Narrow leadership has preceded trouble before. Not always immediately, but eventually. The math is simple: when the crowd thins out, there's less support when sentiment shifts.

Pay attention to what's NOT working. That tells you more than what is.