Market is being led by Technology and Healthcare sectors. What traditionally leads equities out of a recession are Financials and Consumer Cyclicals. Those sectors have been flat to down over the past 5 weeks. Keep in mind that the 5 FAANG stocks make up something like 20% of the S&P 500 market cap. They can drive the index higher while everyone else is flat. It may be different this time, but I would like to see a little more breadth to this equity market recovery.
That sound quite plausible. Thanks.