The market looks to be transitioning.
The year long consolidation is breaking out, and the treasury yield is supporting the move.
That same worry caused me to miss plenty via AAPL and IBM. Instead of getting what-would-be perceived rational consolidations, some tech names saw heavy multiple expansion. (The expansion is still reasonable in relation to their growth.) Combining the the breakout, shift in treasuries and leaders with multiple expansion, we have a serious suggestion of a transitioning market. A market that can push toward a 15 multiple.