S&P 500 Nears Record High But Breadth Flashes Rare 1929, 1999 Signal — Analyst Says ‘We've Never in Almost 100 Years Seen Breadth This Bad'

The S&P 500 moved to within 1% of its record high, but more constituent stocks hit 52-week lows than highs on the same day. This rare breadth divergence has occurred only twice in the past century, signaling narrow leadership and potential underlying market fragility despite the index’s strength.