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Market Divergence Signals Critical Juncture for S&P 500
CNBC commentator Mike Santoli notes the S&P 500 is near record highs while median stocks lag 16%, indicating extreme market breadth. Analysts from Goldman Sachs, Morgan Stanley, and Deutsche Bank discuss narrow leadership, rising yields, and sector rotation. Only 34% of large‑cap stocks have outperformed the index in the past year. The equal‑weight S&P and Russell 2000 show weakness, and the XMAG ETF may signal further downside. Santoli suggests a potential market pivot if breadth does not improve.