BlockBeats News, July 12th, in the Nasdaq 100 Index, 48% of the component stocks have retraced at least 20% from their recent high, doubling from the past 12 months, but still below the level of 60% before the market bottomed at the end of March, and far from the extreme level of 80% during the bear market in 2022.

Meanwhile, 64% of the component stocks are still above their 200-day moving average, nearing the yearly high — compared to only 38% before the market bottomed on March 30th. The rise in the U.S. stock index is increasingly reliant on a few stocks for support.