Troublesome Breadth Statistics:
On Friday, the S&P 500, Dow Industrials and NASDAQ Composite all closed at record highs. Yet the majority of stocks on both the NYSE and NASDAQ exchanges declined on the day. That’s the third time in the past month that breadth has been negative while the major indexes traded at new highs—a cluster only seen once before, in 1999. And, it’s the exact opposite of the kind of breadth readings seen during the 2010-2013 phase of the bull market, when there were clusters of days with overwhelmingly positive breadth.
LizAnnSonders; S.V.P. & C.I.S of Charles Shwab