$SPX Is Flashing a Rare Breadth Warning

DavidMarlin
09-30

Another one for the bears. 👇

$S&P 500(.SPX)$ just logged 10 straight sessions with more 52-week lows than 52-week highs while sitting within 2% of its highs.

That’s an unusual divergence.

Since 1990, this has happened only two other times:

December 1999
January 2000

Both occurred right around the peak of the Dot-Com Bubble.

Does that mean the market is about to repeat 2000?

No.

But when the index is sitting near highs while breadth underneath is deteriorating this aggressively, it’s a signal worth paying attention to.

Bears have a data point.

Now they need the price action to confirm it.


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