This entire market is currently being carried by tech stocks. Look at sector performance over the last month: Tech: +8.14% Industrials: -5.7% Financials: -6.3% Materials: -7.3% Real Estate: -8.1% Utilities: - 8.9% But tech is growing earnings at such a rapid rate that the valuation multiple of the market has actually declined in 2026, despite the fact we're up double digits.