FSI Sector Allocation

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FSI Sector Allocation

You are currently reading an old outlook from our archives. Please consider reading our latest outlook here before making investment decisions and changes on your portfolio.

June Outlook 2023

Tickers in this report: $XLV, $XLP, $XLK, $XLE, $XLU, $XLI, $XLB, $SIVB, $SBNY

The equity markets continue to be quite fractured, with larger-cap Tech/AI-related in one bucket and dominating weighted indexes like SPX and NDX, and broader-based and equal-weighted metrics like SPW and Russell 2000 in the other. After a surge of outperformance in the former, it appears that traders now want to suddenly shift to the latter, which have been laggards. Despite one Wall Street firm downgrading their recession odds and fueling some cyclical optimism, my work and view of the macro sees this type of action as only tactical trading action, squeezing shorts, and not necessarily supported by my key indicators.

The equity markets continue to be quite fractured, with larger-cap Tech/AI-related in one bucket and dominating weighted indexes like SPX and NDX, and broader-based and equal-weighted metrics like SPW and Russell 2000 in the other. After a surge of outperformance in the former, it appears that traders now want to suddenly shift to the latter, which have been laggards. Despite one Wall Street firm downgrading their recession odds and fueling some cyclical optimism, my work and view of the macro sees this type of action as only tactical trading action, squeezing shorts, and not necessarily supported by my key indicators.

The equity markets continue to be quite fractured, with larger-cap Tech/AI-related in one bucket and dominating weighted indexes like SPX and NDX, and broader-based and equal-weighted metrics like SPW and Russell 2000 in the other. After a surge of outperformance in the former, it appears that traders now want to suddenly shift to the latter, which have been laggards. Despite one Wall Street firm downgrading their recession odds and fueling some cyclical optimism, my work and view of the macro sees this type of action as only tactical trading action, squeezing shorts, and not necessarily supported by my key indicators.

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FSI Sector Allocation

You are currently reading an old outlook from our archives. Please consider reading our latest outlook here before making investment decisions and changes on your portfolio.