Daily Report : A broad breakout; Buy-losers-and-sell-winners hits historic proportions

The relief rally on Monday pushed more than 80% of S&P 500 stocks above their 200-day moving averages, and more than 25% of them to new highs. There was also a surge in positive reactions in discretionary, material, and industrial stocks.; Monday's lurch from large to small stocks, and from growth to value, was among the most extreme in 75 years. That builds on months of wide swings between them. There have been 2 other periods in history when this happened, both leading to massive shifts to small and value stocks.

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