S&P 500 Hits New Highs with Weak Breadth, Raising Concern Among Analysts
The S&P 500 reached a new high on Monday driven by artificial intelligence and memory stocks like Micron Technology. However, technical analysts are concerned due to weak breadth in the market; only 52% of its components were above their 50-day moving averages despite the index being up over 7%. This is one of just three times since 1990 that such a divergence has occurred.
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Topics: AI sector dominance memory stocks S&P 500 performance stock breadth