The Breadth of the Stock Market Shows It’s Not 1999 All Over Again
Morgan Stanley's Wilson Sees S&P Hitting 2,700 in 2018
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For the market bears trying to draw comparisons between today’s bull market and that of the late ’90s, here’s a reason the link may be unwarranted.
Market breadth is alive and well, with more than 70 percent of S&P 500 members advancing, analysts at Strategas Research Partners including Chris Verrone, head of technical analysis, wrote in a note Tuesday. That wasn’t the case in 1999, when less than half of S&P 500 members rose. In 2007, before the crisis, just 50 percent of stocks ended the year higher.