Below is a synopsis of this investment report:
- Defensive sectors such as telecom, utilities, and consumer staples led the stock market rally up until the beginning of April.
- At that time, we felt that these sectors were peaking in valuation and began to prepare for a shift out of defensive stocks and into cyclical ones such as industrials and technology.
- This leadership change, where one group of stocks falls out of favor for another, appears to be underway.
For full access to the investment report titled “Leadership Changes”, please contact us.