← Browse all charts Chart intent How much hidden damage sits beneath the index?
Methodology: Current constituents, not point-in-time membership. History starts 2019-05-10 and can carry survivorship or constituent-change bias.
Market Signal
S&P 500 Members In 20%+ Drawdown
A stealth-correction breadth chart showing how much of the current S&P 500 member universe is already in a stock-level bear market.
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The latest series values are listed below the chart. Visible-window CSV and full-history JSON downloads are available above.
Historical Context
Toggle the market-event markers above when you want to line recent regime shifts up with the signal.
How To Read It
- Rising breadth means more stocks are participating; falling breadth means leadership is narrowing.
- If the index is strong while breadth weakens, concentration is likely doing more of the work.
- Extremes matter most when they reverse, because that is when internals begin to confirm or reject the headline move.
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