The S&P 500 wrapped up last week with a solid technical picture—roughly 70% of its constituent stocks are trading above their 200-day moving averages. That's the kind of broad-based strength that traders typically like to see. When you've got that much of the index participating above this key technical level, it suggests the rally has some real meat on its bones rather than being driven by just a handful of mega-cap names. Worth keeping an eye on whether this momentum holds or if we start seeing a pullback in participation as we move forward.