Mega-Cap Tech is Still Driving the Bus

Also, could rising bond yields cause the recent rally to stall?

• The continue rally in the stock market is showing signs that it will take a breather soon. The Treasury market is testing a key level, so that could determine whether any near-term pullback in stocks becomes something more than just a “breather” or not.

• As much as some investors want to talk about how the mega-cap tech sector won’t be as important as it has been in the past for the broad stock market, they’re acting in a way that shows that this part of the market is still incredibly important.