On a Monday that looked like a victory for markets, the S&P 500 edged toward record territory and the Nasdaq climbed more than two percent — yet beneath those headline numbers, technical analysts are reading a more sobering story. The breadth of participation in this rally, meaning how many individual stocks actually shared in the gains, has deteriorated to a degree not seen since the late 1990s, when a narrow band of technology darlings carried indices skyward just before the dotcom collapse. History does not repeat mechanically, but it rhymes with enough precision that those who study market