The stock market just did something eerily similar to the dot-com bubble top in 2000
... On Friday, just 20 of the index members hit a record. Of those 20, just seven were not directly related to artificial intelligence. Michael Hartnett at Bank of America pointed out in a note to end last week that it was just 20 stocks that hit new highs at the very top of the internet bubble in March 2000. While the widely followed strategist said the “speculative price action” is likely not over yet, this occurrence is the latest sign that it is nearing. ...
Advance-decline lines, which show the number of stocks rising compared with the number falling, have exhibited a similar trend, surging at the end of March and then falling back in a bearish sign since the middle of April. ...
"Poor breadth is often a sign of underlying stock market vulnerability,” BCA strategists led by Arthur Budaghyan said in a May 20 report. ...
