Chart Of The Day: Nasdaq Has Worst ‘Bad Breadth’ On Record

We’ve talked a ton about market breadth lately.

Specifically, we’ve demonstrated that both the equal-weighted S&P and the Russell 2000 have begun to significantly underperform the regular S&P. For our latest on this, see here:

Needless to say, that underscores worries about the extent to which a handful of high-flyers (think: tech) are shouldering a disproportionate share of the burden in terms of levitating benchmarks.

Well, in what is perhaps the most glaring example of this dynamic yet, the equal-weighted Nasdaq has just hit an all-time low versus the regular benchmark:


And here’s a look at the divergence of fortunes (figuratively and literally) over time:




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