Posted 3/11/2024, 8:09:54 AM
Wall Street: Market Rally Justified Despite Concerns Over Concentration in Tech
- Wall Street analysts argue the market rally is justified despite concentration concerns
- Strong tech earnings from companies like Nvidia support the bull case of further gains
- Market breadth is slowly improving with small caps and equal weight indexes outperforming
- Elevated concentration doesn't necessarily indicate a market top historically
- Analysts believe "catch up" by laggards more likely to interrupt momentum rally than selloff by leaders