Woofun AI data shows that 48% of Nasdaq 100 component stocks have retraced at least 20% from their recent highs. This figure has doubled over the past 12 months but remains below the 60% level observed before the market bottomed in late March and is significantly lower than the 80% extreme seen during the 2022 bear market.

Concurrently, 64% of these stocks continue to trade above their 200-day moving average, a level close to the year's high. This contrasts sharply with the 38% proportion recorded prior to the March 30th market bottom, highlighting a divergence where index gains are increasingly driven by a limited number of equities.