SPX vs Internals
S&P 500 is near the Aug high, but most stocks are in downtrends
Rotation into the broader market ended at the August high and the breadth has been declining since
342 stocks are below the 50D MA and 240 are below 200D MA
The post-FED rally was largely led by large-cap tech stocks. Small caps and the Dow lagged. Investors are maybe betting that higher rates will not hurt tech giants
