Stock Market Rally Broadens Beyond Big Tech, Signaling a Potential Shift to Sustained Bull Run
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The recent stock market rally has broadened beyond just 7 large tech stocks, with 78% of S&P 500 stocks above their 200-day moving averages.
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Sectors like financials, small caps, industrials, and real estate have led gains over the past month versus big tech.
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Analysts see the broadening as a healthier sign of a potential sustainable bull market.
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The rally still needs to show follow-through with sectors like financials and small caps continuing to lead.
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Analysts say if the broadening continues without the big tech names falling, it would signal an improved economic outlook for 2023.