Over the past month, the S&P 500 has fluctuated near its historical highs, but since March 30, the proportion of its constituent stocks that have hit 52-week highs has risen from approximately 35% to 46.1%. This means that while the index appears to have stagnated, the scope of its upward movement is still expanding, and the market is not solely reliant on a few large-cap tech stocks; funds are gradually spreading to more industries and individual stocks. (Note: 46.1% does not represent all stocks hitting new highs on the same day, but rather the cumulative percentage of stocks that have hit new highs since the end of March.)
