The Rally Broadens Beyond Big Tech — Sevens Report Highlights the FOMO Trade
Tom Essaye says improved breadth shows this market may still have plenty left in the tank
The Stock-Market Rally Is Moving Beyond Big Tech and Investors Are Thrilled
The stock market rally is no longer just a tech story. Recent gains in financial and industrial stocks have pushed one key measure of market breadth to a new high—signaling rising participation across sectors.
That’s a good sign, according to Tom Essaye, founder of Sevens Report Research, who believes the bull run may have room to run—as long as economic stability holds.
“As long as things can stay stable, then this market is not exhausted by any stretch of the imagination.”
— Tom Essaye, Sevens Report
Essaye attributes the surge in non-tech names to classic FOMO trading—as investors who missed out on AI and Big Tech now rotate into other sectors.
“Market breadth has improved as investors search for new opportunities in different industries… It’s the FOMO trade.”
Broader participation often strengthens the sustainability of a rally, making this shift in leadership a potentially bullish signal for the months ahead.
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