As the month of August comes to a close, we are seeing more evidence of the rotation occurring within the equity markets that we have been discussing as of late.
The following charts from Jim Paulsen, Chief Investment Strategist at The Leuthold Group, very clearly highlight the shift in market leadership.
Leading up to the July 16th peak for the S&P 500, 9 out of the 11 sectors trailed the Index return due to the outsized performance of Information Technology (MSFT, NVDA, AAPL) and Communication Services (META, GOOGL).
From July 16th through August 29th however, 7 of the 11 sectors have outperformed the Index while Information Technology, Communication Services and Consumer Discretionary (AMZN, TSLA) have lagged notably.
September 3, 2024
As the month of August comes to a close, we are seeing more evidence of the rotation occurring within the equity markets that we have been discussing as of late.
The following charts from Jim Paulsen, Chief Investment Strategist at The Leuthold Group, very clearly highlight the shift in market leadership.
Leading up to the July 16th peak for the S&P 500, 9 out of the 11 sectors trailed the Index return due to the outsized performance of Information Technology (MSFT, NVDA, AAPL) and Communication Services (META, GOOGL).
From July 16th through August 29th however, 7 of the 11 sectors have outperformed the Index while Information Technology, Communication Services and Consumer Discretionary (AMZN, TSLA) have lagged notably.