One number. One chart. One insight moving markets today.
The Market Isn’t Narrowing. It’s Widening 📈
By Grant Hawkridge
December 11, 2025
Today's number is... 1
1-month highs are expanding across large caps, mid caps, and small caps.
Here’s the chart:
Let's break down what the chart shows:
The top panel displays the S&P 500 price in black.
The second panel displays the percentage of S&P 500 stocks at 1-month highs as a black line.
The third panel displays the percentage of S&P 400 stocks at 1-month highs as a black line.
The fourth panel displays the percentage of S&P 600 stocks at 1-month highs as a black line.
The Takeaway: 1-month highs are rising across all three size groups.
Large caps, mid caps, and small caps are lifting at the same time. That tells us buyers are spreading out and not hiding in one corner of the market.
Mid caps have hit their highest reading since July 2025. Small caps have not been this strong since August 2025. That is real movement from the parts of the market that traders forgot about.
These groups do not wake up by accident. They wake up when buyers start broadening their reach.
This is an early expansion. It is not a thrust. But it is the groundwork you need before a possible thrust.
Traders always want confirmation, and this is part of that process. You want buyers to step outside the usual leaders. You want rotation. You want participation, and you are seeing that start to build.
Now the focus is on what the follow-through will look like.
So, do mid and small caps keep climbing, or do they stall again when the market needs them the most?
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