Stock Market Rally Broadens Beyond Big Tech in 2023
• The 2023 stock market rally has broadened out beyond the "Magnificent Seven" big tech stocks that led most of the gains last year
• 78% of S&P 500 stocks were trading above their 200-day moving averages last week, indicating strong breadth
• Sectors like financials, small caps, industrials, and real estate have outperformed over the past month
• Analysts say the rally may have reached a healthier, more sustainable phase if this broadening continues
• Key will be if more defensive sectors keep pace with the traditional growth leaders going forward