It depends on the institutions. They have all the money. If they determine, collectively, that the market is the place to be, then they will put all of their excess cash (and they have a ton of it) to work in the markets.


What you are seeing now is the institutions gearing up for a move. They are rotating out of tech and into the smokestacks. This may or may not drag tech along, but I wouldn't count on it too much.


Institutions have most of the money. Where they go with it is the key.