The S&P just hit 7,500 but nearly half the index is below its 50-day moving average, is anyone else concerned about this?

Record highs across the board. S&P 500, Nasdaq, Russell 2000, all setting new highs this week. Six straight weeks of gains. AI stocks leading the charge. NVDA, Apple, Intel dragging the indices higher. But here's the number that's been stuck in my head: only 52% of S&P 500 components are trading above their 50-day moving average. Think about that. The index is at an all-time high, but nearly half the stocks in it are in short-term downtrends. What that means: the record is being carried by a handful of mega-cap names. The average stock in the S&P 500 is actually underperforming the index significantly. If you're not holding the right 5-7 names, you're probably watching the index print new highs while your portfolio does nothing. The last time we saw this kind of divergence was late 2024. Before that, late 2021. Both times, breadth eventually caught up to the index, not by the laggards rallying, but by the leaders pulling back. Not calling for a crash. Not saying sell everything. But the risk/reward of chasing AI/mega-cap names at these levels, when the foundation beneath them is this thin, makes me uneasy. The upside is priced in. The downside isn't. How are you positioning for this? Still adding to mega-cap tech or rotating into the lagging sectors that might catch up if breadth normalises? (No position disclosure, just observing, no trades taken on this)