While the tech rally loses stream, this stock-market breadth indicator is at its strongest level in nearly 3 years

A handful of megacap technology names were responsible for most of the S&P 500’s gains over the past year — but that has started to change in 2024, according to Bespoke Investment Group.  While the so-called Magnificent Seven stocks — a group of top-performing tech companies that includes chip maker Nvidia Corp. NVDA, -0.21%— have continued to lead the S&P 500’s SPXrally since the start of 2024, data indicate the rest of the market has begun to catch up