NarrowRally
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The Dow’s Record Highs Are a Price-Weighted Mirage

The Dow is screaming “new highs,” and traders are cheering like the whole market’s in on the party. It isn’t. This rally is narrow, mechanical, and quietly propped up by a handful of stocks that just happen to have the loudest voices inside the index. Here’s the problem: the Dow Jones Industrial Average isn’t weighted…
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