Nasdaq Hits a Record High—But More Stocks Are Hitting New Lows

September 21, 2026 — The Nasdaq closed at a record high today, helped by a huge rally in Meta. But underneath the headline index, something much less bullish was happening: more Nasdaq stocks were hitting 52-week lows than 52-week highs. Meta finished up roughly 11%, while the Nasdaq gained about 2.3% to a record close. Zach Abraham breaks down what that divergence says about market breadth, concentration, and the extraordinary influence of a small group of mega-cap technology companies. He also explains why the warning deserves attention without automatically treating it as proof that a crash is coming. Zach also discusses the latest moves in oil, interest rates, international markets, and why the current environment continues to make simple market narratives unusually difficult to trust.


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