S&P 500 reportedly near a record despite over 70% of its stocks sitting at least 10% below their highs

A September 28 market post says the S&P 500 was within 1% of an all-time high while over 70% of its stocks were at least 10% below their own highs. It likens the divergence to 1999 and says breadth could recover or weaken further, potentially pulling down the broader market.