The S&P 500 rose 1.5% but only 7 stocks hit 52-week highs while 30 hit lows. Mike Milligan compares this unusual divergence to December 21, 1999, a rare pattern that may signal trouble ahead despite the strong headline numbers.
The S&P 500 rose about 1.5% and closed within 1% of a new 52-week high. Sounds like a beautiful day. It was, except 30 stocks in the S&P 500 hit new 52-week lows yesterday. Only 7 stocks hit new 52-week highs. That ratio, 30 hitting lows and 7 hitting highs on a day that the market ripped. The last time the S&P 500 rose at least 1% to within 1% of a new 52-week high while new lows outnumbered new highs was December 21st, 1999.
How to evaluate AI growth stocks (Nvidia, Oracle, CoreWeave) beyond market hype
How to evaluate AI growth stocks (Nvidia, Oracle, CoreWeave) beyond market hype
