Recent data indicates a downturn in market breadth for the S&P 500, with fewer than 54% of its stocks trading above their 200-day moving average, marking the lowest level in over a year. The percentage of S&P 500 stocks above their 50-day moving average has also declined to 19%, a new low for 2024, with a notable drop of 25 percentage points over the past two days, the largest decline since January 2023. Additionally, 70% of S&P 500 members reached a new one-month low yesterday, the most considerable spike since September 2022. Furthermore, only 7.5% of S&P 500 stocks are trading above their 20-day moving average, and the percentage of NYSE stocks above their 200-day moving average has dropped to just below 50%. These trends suggest a challenging market environment as the year comes to a close.