FOMO Kicks In as More Stocks Join the Rally | Tom Essaye Sees Room to Run
Improving market breadth may fuel the next leg higher, says Sevens Report’s Tom Essaye
More Stocks Join the Surge, Signaling More Upside Ahead
The U.S. stock market is showing signs of broadening strength as more sectors join the rally that began with tech. According to Sevens Report founder Tom Essaye, that’s a signal there may still be more upside ahead—as long as conditions remain stable.
“The market still has plenty of room to rise,”
— Tom Essaye, Sevens Report
In a recent interview with Wallstreet Insight, Essaye explained that this surge in market breadth—the number of individual stocks participating in the rally—is being driven by investor behavior:
“Investors who missed the historic rally in tech are now looking for opportunities in other sectors. It’s a classic case of FOMO trading.”
As lagging sectors catch up, the foundation of the rally strengthens. If this rotation continues, it could reduce concentration risk and extend the bull run beyond tech leaders.
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