June 20, 2025 Potential US involvement in the latest Israel/Iran conflict has seized headlines. The S&P 500’s reflationary advance has paused and commodities prices, led by crude (charts below) have sparked Energy Sector outperformance. WTI Crude (NYMEX) Bloomberg commodities Index While Energy shares have hooked higher with crude, Technology shares have continued to lead US […]
June 13, 2025 S&P 500 futures are lower this morning on emerging geo/political tensions. With the index price just shy of all-time highs, we are at a point in the equity bullish reversal where some consolidation is expected. Our S&P 500 price chart (below) shows 5786 and 5504 as key support levels. If consolidation occurs
Factor Friday: Growth vs. Value Back at Par for 2025, Where Do We Go From Here? Read More »
June 6, 2025 Factor performance in the context of shifting narratives on global trade has been the story of 2025. Threats of tariffs on the global supply chain boosted Value style shares over the broad market Russell 3000 index from February to early April while Growth has come charging back since equities put in their
Factor Friday: Multi-Factor with Momentum has Produced Less Volatile Returns in 2025 Read More »
May 30, 2025 The S&P 500 continues to develop a bullish reversal price structure (chart below). The rally off the early April lows is above March highs and only has congestion between 5963-6100. We remain sanguine on the recovery as US shares have established leadership vs. ex-US equities off the low (chart, bottom panel). Our
Factor Friday: Using Mo Funds to Find Momentum Themes Read More »
May 23, 2025 A quick note on factor performance ahead of the long weekend. We hope everyone has a wonderful holiday and that even those (like us) facing inclement weather have something to look forward to amidst friends and family. We wanted to highlight our Large Cap. Growth vs. Value chart (below). As can be
Factor Friday: Growth vs. Value: Growth Now on the Cusp of a Break-out Read More »
May 2, 2025 As the S&P 500 makes its most sustained attempt at a bullish reversal since prices began correcting in March, we review our suite of factor funds. Rhetoric on global trade has shifted to conciliation among most global trading blocs. The Trump Administration has focused on China as their principle adversary in this
Factor Friday: Signs Investors are Rotating Back into Growth Read More »
April 4, 2025 Tariffs are here and they brought the Bear with them. Wednesday afternoon’s pronouncements and news of reciprocal measures coming out on Thursday evening has equities taking the elevator downwards. Speed is the weapon of the bear, patience that of the bull. As we survey our various factor fund groupings this week, we
Factor Friday: Reviewing Factors as the Bear Takes Over the Tape Read More »
March 28, 2025 The S&P 500 has rallied off recent lows made on March 13, but the RSI momentum study (chart below, panel 3) has hit a near-term peak at an area of expected near-term resistance. Equities have been setting up for a pivot on Wednesday April 2 as the Trump Administration will be announcing
Factor Friday: S&P 500 Rally Looking Tired Setting Up Low Vol. in the Near-term Read More »
Rotation away from Growth continues. We think there’s more upside for commodities related stocks in the near-term which supports continued outperformance in the Value trade. We will be looking closely at performance of defensive sectors and factors vs. those that offer exposure to Growth to try and sus out the next potential pivot for the US equity market. We don’t have high conviction signals to move off a defensive posture in our positioning yet.
Factor Friday: Equity Leadership Rotates to Value and Income Read More »
March 14, 2025 When we last published on factors on February 21st, 2025, we looked at long-term performance trends for the most popular factors. You can find the piece here, but the TL:DR version of it is that the Growth factor has historically demonstrated long-term outperformance at the expense of Value over the period studied
Factor Friday: Growth Stocks are in the Crosshairs Read More »
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