The merits of diversification were on full display last week 🍾

Plus a review of the macro crosscurrents 🔀

The S&P 500 (the green line) rallied during a week that saw mega-cap tech stocks get crushed. (Source: Yahoo Finance)

Stocks climbed last week, with the S&P 500 jumping 4%. The index is now up 9% from its October 12 closing low of 3,577.03 and down 19% from its January 3 closing high of 4,796.56.

The broad market rally, however, belies some big selloffs a…