Stocks had a great day on the surface. But something alarming occurred not seen since 1999

The stock market just posted a banner day by nearly any measure on Monday. The Nasdaq Composite
surged 2% to a new record. The broader S&P 500
jumped about 1.5% and now sits less than 1% below a new high.

But traders are buzzing about something unhealthy that occurred under the surface.

More stocks fell to new 52-week lows on Monday than rose to 52-week highs in the index. More specifically, 30 S&P 500 stocks hit new lows, while only seven reached fresh highs.

The last time the index advanced at least 1% to within 1% of a new 52-week high as new lows outnumbered new highs was Dec. 21, 1999, a few months before the Dotcom Bubble top. That’s according to Jason Goepfert, who founded SentimenTrader and now serves as an adviser at NextGen News.

Source: https://www.cnbc.com/2026/09/21/stocks-had-a-great-day-on-the-surface-but-something-alarming-occurred-not-seen-since-1999.html