THIS RALLY IS BROADER THAN PEOPLE THINK Tom Lee said that this isn’t just tech or the Mag 7 dragging the market higher. Energy, materials, healthcare, financials, industrials, and small caps are all participating. Even the equal-weight S&P just hit a record. That’s real breadth. Crypto being green inside that backdrop matters. When stocks, small caps, and crypto are all working at the same time, it usually means risk appetite is expanding -- not rotating. Add in a Fed that’s leaning dovish, QT effectively over, and tariffs fading into the background, and this starts to look less like a fragile bounce and more like a market with room to run. Not everything has to rip at once for this to be constructive. Breadth doing the work is the signal. 💯