S&P 500 Approaches Record High as Breadth Divergence Signals Hidden Market Stress
60% of S&P 500 components are down more than 20% from their all-time highs despite the index nearing a record
Key points
- 60% of S&P 500 components are down more than 20% from their all-time highs despite the index nearing a record
- Mega-cap technology concentration is masking widespread weakness in consumer discretionary, energy, and materials stocks
- Active managers see potential opportunity in neglected small- and mid-cap names trading far below their individual highs
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🇺🇸 United States Stocks Market-Health s-p-500 Health breadth equities