The number of S&P 500 stocks setting new 52-week highs has shrunk as the rally has advanced,...

|By:, SA News Editor

The number of S&P 500 stocks setting new 52-week highs has shrunk as the rally has advanced, Brown Brothers observes, "a bearish sign of selectivity that tends to occur when strength by big-cap stocks masks weakness in the broader market.” Net new 52-week highs peaked at 280 companies on Feb.3; the number has since dwindled to a net 38.