U.S. stocks caught in extreme "narrow bull" market, signal of turning point in market appears.

In the S&P 500 index, only 20 component stocks hit a new high last Friday. Among these 20 stocks, only 7 are not directly related to artificial intelligence. Michael Hartnett, Chief Investment Strategist at Bank of America, recently mentioned in a report that when the Internet bubble reached its peak in March 2000, only 20 stocks hit a new high. Hartnett believes that the speculative market may not be over yet, but the recent phenomenon is a signal that the market is approaching a turning point. Currently, the U.S. stock market is showing an extreme "narrow bull market" phenomenon, where the uptrend is driven by the strong performance of a few stocks or specific industry stocks, rather than the majority of stocks rising. More and more strategists and investors are starting to worry: if this bull market cannot spread to more sectors, the market will eventually turn from prosperity to decline.