As the FANG stocks (Facebook, Amazon, Netflix and Google) continue to propel US equities higher, there is worry that the majority of benchmark returns are being driven by so few companies. Bloomberg offers a good primer on market breadth and the advance/decline line: when the overall stock market is rising but more individual securities are declining than are rising, that can be a signal that the market is not “acting right” and the uptrend could be in trouble. This has yet to occur in US equities but is well worth monitoring.