The Small-Cap Rally: A Cautionary Tale for Stock-Market Investors.

Small-cap shares have rallied around 7% over the last four trading days, but technical analyst Jonathan Krinsky warns investors to proceed with caution as the rally may have run its course. The S&P 500 index is up nearly 12% so far in 2023, with gains heavily concentrated in megacap, technology-related stocks, stoking concerns about the rally's durability. Krinsky expressed concern over a jump in purchases of call options on the iShares Russell 2000 ETF, suggesting "complacency."