The S&P 500 Index is trading sideways, yet nearly half of its component stocks have already taken turns hitting new highs

TechFlow News, July 22: Over the past month, the S&P 500 has fluctuated repeatedly near historical highs, but since March 30, the proportion of constituent stocks that have hit 52-week highs has risen from about 35% to 46.1%. This means that while the index appears stagnant, the internal scope of gains is still expanding; the market rally does not rely solely on a few large tech stocks, as capital is gradually spreading to more sectors and individual stocks. (Note: 46.1% does not indicate hitting new highs simultaneously on that day, but rather the cumulative proportion of stocks that have hit new highs since the end of March) (Jin10)