Below is a chart and brief excerpt from today's Early Look written by Senior Macro Analyst Darius Dale.
All told, investors would do well to acknowledge disconfirming evidence of a US/global Quad 2 recovery by fading FOMO in sector and style factor leadership terms. In line with the SPY ETF’s expense ratio of 0.095%, I am neither compelled nor compensated to make a call on “the market”.
Just know that year-end performance chasing doesn’t have to end well just because we all want to get paid (e.g. 2018).