S&P 500 Breadth Collapse — 84% of Stocks -10% Below ATH
The Kobeissi Letter flags a sweeping breadth deterioration: 84% of S&P 500 stocks are at least 10% below all-time highs, with Real Estate (97%) and Materials (96%) hit hardest, and analysts warning of rising market risk.
What we know
An account on X posted the stat with 689 likes and 85K views — the clearest macro equity signal this hour. Real Estate leads drawdowns at 97%, followed by Materials (96%), Utilities (94%), and Consumer Discretionary (92%). Energy is the notable holdout. Another account on X separately warned to 'beware the expansion of breadth' with a linked Substack analysis. Meanwhile another account on X offers a counterpoint on BTC's weekly chart, calling it a 'textbook bullish breakout & retest' and urging patience on HTF.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.