If breadth was the catalyst, it would be making the bigger move today. It doesn't matter in a market where money is being pushed by foreign central banks. That money can only go into the largest capitalized stocks.
Money "flows" into areas that it believes to be undervalued on a comparable basis.
With liquidity levels as high as they are currently, this is more of a rotational question than it is a philosophical one of which one can use a simple EMA to keep you from making directional mistakes.
Anyway...everything market must be addressed in its proper context....whether it be on a daily or trending basis.