Stocks spent the past two weeks bouncing back from a tough November start, and for once artificial intelligence doesn’t deserve all the credit. “If this bull market is going to broaden and stay durable, rotation is the oxygen, and now we’re seeing it worldwide,” writes Macro Risk Advisors Chief Technical Market Strategist John Kolovos in a note from this weekend. Investors had been worried that the AI trade’s troubles—vast capital spending, increased competition—could mean an end to the rally, but that doesn’t have to be the case if other sectors pick up the slack.