Cycles And Rotation

Classical models of market activity hold that there are predictable cyclic rotations in the equity markets.  We are familiar with the overlapping sine waves of market segments as they progress through their stages of growth and decline. In broad brushstrokes, as leading industries such as financials mature, we would expect to see robust economic activity … Continue reading Cycles And Rotation

The Significance Of Ranges

Experienced market participants know that stocks spend most of their time in seemingly random ranges.  It is only for a short time that they will actively trend up or break down.  This is logical since companies will go about their business in a somewhat predictable and systematic way. When something unusual or extraordinary happens, or … Continue reading The Significance Of Ranges

Gold

As you'd expect, there has been positive activity in the Gold sector. It may be surprising that relative strength was occurring here even before the recent market volatility.  As we look at the relative performance of some major sectors, it wasn't obvious that gold stocks were outperforming the overall market (as measured by the Nasdaq).  … Continue reading Gold