The market showed significant rotation as the Dow closed above 44,000, indicating a shift away from megacap tech toward sectors benefiting from Trump's pro-business policies.
Financials and industrials are outperforming, with major banks like Morgan Stanley and Wells Fargo heading toward record closes while tech stocks lag behind.
With the S & P 500 near record highs, Oppenheimer revised its year-end target upward, predicting further gains supported by positive market seasonality.
Despite the bullish outlook, the market may be overbought according to the S & P 500 Short Range Oscillator, necessitating a cautious selling approach into strength.
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