Is the stock market rally for real?

MarketWatch/William Watts/6-16-2023

“[W]e are not convinced we at start of brand, new shiny bull market…still feels more like combo of 2000 or 2008, big rally before big collapse.” – Michael Hartnett, Bank of America

USAGOLD note: The Financial Times pointed out recently that this rally is essentially concentrated in seven high-tech stocks. Hartnett sees it as fragile but could stay elevated until Fed “reintroduces fear.”