70% of S&P 500 stocks were trading above their 200-day moving average on Friday.

That is the strongest market breadth since 2024.
This matters because rallies are healthier when more stocks participate, not just a handful of mega-cap names.
For $SPY, strong breadth shows the move is becoming broader across the index.
The big question now is whether this confirms a durable uptrend or marks another crowded risk-on moment.