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The Market's Perception of a Growth Rally
After we made the bottom in October, the rally up to the Deese highs was led by the Dow 30. In January, it was different. You started seeing performance by tech. Tech was outperforming the S&P. High beta stocks started to do better. So, yeah, there was quality in that January 23rd move higher. This was a rally where you were seeing some risk on.