🚨 $SPX IS SHOWING A CLASSIC LATE-CYCLE WARNING... Market valuations remain elevated Bullish sentiment is nearing extreme levels Meanwhile, the rally is being driven by fewer names than ever Right now, most of the upside comes from just a handful of giants: • Apple • Microsoft • Nvidia • Amazon • Meta • Alphabet • Tesla • Broadcom Here's problem: Once those leaders begin to roll over, rest of market rarely stays immune Signs of weakness are already creeping into several mega caps If that trend spreads, this won't end as an ordinary correction It could quickly evolve into a broad risk-off event The narrower leadership, the greater downside risk Turn notifs on - I'll keep you updated