Market Showing Signs of Weakness Beneath Surface as Downside Volume, Small-Cap Declines Signal Rare Technical...

Despite market resilience, underlying technical indicators are showing signs of weakness, according to market commentary. Downside volume on the NYSE recently spiked to 54% near year-to-date highs, while small-cap stocks including the Russell 2000 have declined more than 5% from their highs.
The specific technical signal has occurred only 12 times since 1996, according to analysis from BTIG's Jonathan Krinsky, suggesting the pattern is relatively uncommon and potentially significant.