For weeks, breadth underlying the Nasdaq rally had been weakening, then turned negative. Days after that, stocks on that exchange enjoyed one of the best and more broad rallies in months. This kind of behavior tends to be positive and goes a ways toward offsetting the negatives from August.; Over the past few months, industrial stocks have stormed back relative to the broader market. The ratio of industrial stocks to the S&P 500 recently jumped more than 10% over a 3-month period, one of the most impressive comebacks since 1928. Other big surgest mostly led to lower long-term returns for stocks, however.

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