Equity markets have enjoyed a tremendous November rally that allowed the S&P 500 to break out of its downtrend pattern and retest the July 31st peak. Now that the market has recovered the lost ground, investors are wondering whether the momentum can carry through the year-end and break out to new highs. While there are many factors at play, including the Federal Reserve and geopolitical events, the ability of the market to maintain November’s positive price action will likely depend on whether investors buy into the broader market and not just the handful of mega-caps that have driven the year-to-date gains.
It’s no secret that the stock market gains year-to-date have been unevenly distributed, so much so that the 7 companies responsible for most of the market’s performance have earned the moniker “the Magnificent 7”. These stocks – Apple
AAPL
AMZN
GOOG
MSFT
TSLA
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