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A higher S&P target and a call to rotate into tech and industrials implies stronger risk appetite, which historically benefits tech-focused equities and SMH during tech-led rallies. If this sentiment persists, SMH could outperform the broader market in the short term, though the timing depends on tech demand and rate trajectories.
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The S&P 500 is holding a narrow trading range after three straight losses as Carson Group lifts its full-year target to 15%-18%. Ryan Detrick argues investors should overweight technology, financials, and industrials to benefit from an expanding economic engine. A tech-rotation scenario suggests SMH could outpace the broader market in the near term.
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