Next Day Prep #259: The Bullish Paradox: Record Highs, Cautious Breadth – Thursday 5/14/2026

Episode summary

Despite record-breaking index highs, the market remains in a ‘Cautious’ regime due to shrinking breadth and heavy reliance on mega-cap stocks. This episode breaks down the divergence between AI infrastructure winners and software laggards, providing a defensive playbook for navigating narrow market leadership.