What’s underneath the index move: broad participation, or a handful of winners? Market breadth says participation is thin: 220 S&P 500 stocks are down versus 182 up, with an A/D ratio of 0.83 and just 45.3% advancing. Yet 11 stocks are making 52-week highs and none new lows—a split read beneath $SPY, not a clean all-clear.Mentions: $SPY (State Street SPDR S&P 500 ETF Trust, $759.08 when posted)By Frame Terminal, Nov 11, 2026. 7 likes, 0 comments.