Schwab Network Big Tech Leads Stock Market's All-Time High Run, TSM Sees Another Record Quarter
Apr 16, 2026
Kevin Green, senior markets correspondent known for trade flow and options analysis, breaks down a tech-led surge. He spotlights concentrated flows into Mag-7 and AI names. He flags overbought conditions and pullback risk. He reviews TSMC’s strong quarter and AI-driven capex versus memory weakness.
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Institutions Driving A Dispersion Trade Into Mega Tech
- Institutions are running a dispersion trade where a small group of tech names (MAG-7) outperform while the rest of the market is faded.
- Kevin Green notes this mirrors the COVID-era trade, with low overall volume but concentrated aggressive inflows into software and select tech names like Tesla and Microsoft.
Prepare For A Pullback To Moving Averages
- Brace for a near-term pullback as indexes show technical exhaustion and indicators (RSI, CCI, MACD) signal potential reversal.
- Expect a likely retest of the 20-day and 50-day moving averages rather than a return to recent lows, Kevin Green warns.
Thin Breadth Supported By Liquidity And Credit Trends
- Market breadth is thin but supporting factors — tightening credit spreads and improving liquidity — are positive for equities sustaining all-time highs.
- Outperforming sectors include consumer discretionary, technology, communication services and parts of financials, providing the market's updraft.