Blue Marlin Advisors – SP 500 [Looking ‘beneath the surface’]

The S&P500 index is looking as strong as ever, as it’s broken through multiple overhead resistance levels, and is comfortably above its upward-sloping 50 and 200 day moving averages…the epitome of a bull market uptrend. Yet, over half of the 500 companies that make up the index are tracking below their 100-day moving averages. It’s a case study in narrow leadership and bearish breadth divergence.