S&P 500 Near High as 30 Stocks Hit 52-Week Lows — SkimNews
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- Nasdaq Composite surged 2% to a new record, while the S&P 500 jumped about 1.5% and now sits less than 1% below a fresh 52-week high.
- S&P 500 breadth turned sharply negative on Monday, with 30 stocks hitting new 52-week lows while only seven reached fresh highs, per SentimenTrader data.
- Jason Goepfert, founder of SentimenTrader and now an adviser at NextGen News, identified the last time the S&P 500 advanced at least 1% to within 1% of a new high while new lows outnumbered new highs as December 21, 1999 — months before the Dotcom Bubble peak.
- Before that, the only other historical instance of this dynamic was July 23, 1929, according to Goepfert's post on X.
- Art Hogan, chief market strategist at B. Riley Wealth, said gains were led by communication services, information technology, and consumer discretionary, but noted information technology sits less than 1% from a fresh 52-week high while communication services and consumer discretionary trail by 4% and 7% respectively.
- Hogan warned the market could see more sessions like this if Middle East tensions persist, energy prices remain stubbornly high, and the Fed continues hiking rates.
- The S&P 500 has risen more than 13% year-to-date in 2026 and more than 19% over the past six months.
Why it matters: Index-level records masked a deteriorating market: 30 S&P 500 components hit new 52-week lows while only 7 made new highs, a breadth divergence that last appeared in December 1999 and before that in July 1929 — both moments preceding major tops. With the S&P 500 up 13% in 2026 but leadership narrowing to communication services, information technology, and consumer discretionary, investors who follow index returns alone are missing that the rally is concentrated in a handful of mega-caps while the broader market quietly weakens.
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