Oct 7, 2026 · 44 min · 27 segments
Stocks recently hit record highs, but beneath the surface, the rally looks much weaker than the index alone suggests. Chuck Zodda and Marc Fandetti discuss why so few stocks are participating in the…
Remember, it did hit an all-time high yesterday, so we've gotta, like, let's not get too excited, like, "Oh, the stocks are down." Like, it'll...
What I will say, under the surface, it, it, it's kinda gross out there, uh, i- in markets if you just look at what we're seeing right now.
I'm not saying, like, put any stock in this, but I'm just trying to give you a sense of, like, what's happened under the hood that makes this market look kinda gross despite all-time highs.
On average, if you look at the last 50 days, where has the stock been? And it goes up and down based on, obviously, how the stocks perform.
Uh, one of the things that some people track is, hey, what percentage of stocks in the S&P 500 are above or below that threshold? And earlier this week, or was a- actually late, uh, last week on Friday, we got down to a, uh, reading of, uh, 23% of stocks above their 50-day average.
That's, like, kind of when stocks have gone through, like, a meaningful dip, and the index is, you know, off anywhere from, like, 8 to 15%.
And we had that hit while stocks, while the S- index was basically hitting an all-time high.
So it tells you that, like, if, if you are just owning the index, you're like, "Oh," like, "this is great." If you're someone who has been buying stocks, like individual ones other than Mag 7, semiconductors, and that's basically it this year, and energy, you're looking in particular at, like, the last two months, and you're like, "Man, this sucks," because your stuff has not been going up for the last two months.
Do they throw the rule out when they see an anomaly like that, or do they, uh, do they chalk it up to an exception that-
'Cause I've never understood, 'cause technicians just look at trends and charts.
Remember, it did hit an all-time high yesterday, so we've gotta, like, let's not get too excited, like, "Oh, the stocks are down." Like, it'll...
What I will say, under the surface, it, it, it's kinda gross out there, uh, i- in markets if you just look at what we're seeing right now.
I'm not saying, like, put any stock in this, but I'm just trying to give you a sense of, like, what's happened under the hood that makes this market look kinda gross despite all-time highs.
On average, if you look at the last 50 days, where has the stock been? And it goes up and down based on, obviously, how the stocks perform.
Uh, one of the things that some people track is, hey, what percentage of stocks in the S&P 500 are above or below that threshold? And earlier this week, or was a- actually late, uh, last week on Friday, we got down to a, uh, reading of, uh, 23% of stocks above their 50-day average.
That's, like, kind of when stocks have gone through, like, a meaningful dip, and the index is, you know, off anywhere from, like, 8 to 15%.
And we had that hit while stocks, while the S- index was basically hitting an all-time high.
So it tells you that, like, if, if you are just owning the index, you're like, "Oh," like, "this is great." If you're someone who has been buying stocks, like individual ones other than Mag 7, semiconductors, and that's basically it this year, and energy, you're looking in particular at, like, the last two months, and you're like, "Man, this sucks," because your stuff has not been going up for the last two months.
Do they throw the rule out when they see an anomaly like that, or do they, uh, do they chalk it up to an exception that-
'Cause I've never understood, 'cause technicians just look at trends and charts.
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