CHART OF THE DAY: #Quad3 = Quality Party Highs, Eh

As the Phase Transition manifests into #Quad3 you want to replace those Factor Exposures and allocations with:

A) Large Cap Liquidity … and
B) Quality Balance Sheets

How’s that beauty pivot looking for you this morning?

A) QUALITY was up another +0.6% yesterday, taking its 1 and 3 month returns to +3.2% and +14.1%, respectively
B) LEVERAGE was DOWN -1.1% yesterday, taking its 1 and 3 month returns to +1.6% and -3.6%, respectively
*Top Quartile vs. Bottom Quartile (SP500 Companies)

“Quality” means LOW DEBT (to Enterprise Value) companies whereas “Leverage” means HIGH DEBT to EV. And, yes, APPL will signal immediate-term TRADE #overbought within my Risk Range™ Signal today…