Record Nasdaq Hides 1999-Style Breadth Warning as Tech Dispersion Widens
The Nasdaq hit a record high on Monday, but underlying market breadth shows a dangerous divergence not seen since the dot-com bubble. While the index surged 2%, 30 S&P 500 stocks hit 52-week lows versus only seven highs. Analysts warn that tech leadership is masking weakness in other sectors, with the Philadelphia Semiconductor Index lagging its June peak by 14%.