The Euphoria is Running Out of Steam
The worst performing sectors last week were the sectors associated with the Mag 7 stocks, which have led the recent melt-up in equity markets. This is a sign that the market rally might be losing steam as the leaders of the rally take a break.
Defensive Posturing Over the Past Two Weeks
The companies associated with the end of an economic expansion cycle or the beginning of a contractionary cycle have been showing signs of s...