Some try to tell me
Thoughts they cannot defend
Just what you want to be
You will be in the end
In a pattern evident for months, stock market breadth continues to weaken despite the current rally. For example, on an an equal weight basis, the SPX is marking near 3 year lows.
The implication is that a few mega cap names are propping up the major market cap weighted indexes.
Support dwindling toward fewer names is typically bearish--sometimes severely so.
position in SPX