Data: Among the Nasdaq 100 constituents, 48% have retraced over 20% from their recent highs, while 64% are still trading above the 200-day moving average.

BlockBeats News, July 12th. In the Nasdaq 100 Index, 48% of the constituent stocks have retraced at least 20% from their recent highs, doubling the proportion in the past 12 months. However, this level is still below the 60% mark seen before the market bottom in late March, indicating a gap from the extreme scenario during the 2022 bear market when it surged to 80%.

Meanwhile, 64% of the constituent stocks are still above their 200-day moving average, close to the year's high. This percentage was only 38% before the market bottom on March 30th, showing that the upward trend of the U.S. stock index is increasingly reliant on a few stocks.