This bear market has been brutal. Between sticky inflation, a hawkish Fed and a looming global recession, bulls can’t seem to catch a break.
2022’s big macro headwinds have hit tech stocks hardest, pressuring the S&P 500 and NASDAQ. It’s been easy to miss better performance under the surface.
MAPsignals has been highlighting energy and defensive sector leadership all year. Now, we’re seeing big money in-flows emerge in big cyclical sectors like industrials and financials. The rotation is alive and well.
That’s great news for small caps. Major small cap indices are loaded with cyclicals and light on tech and communications. That’s helping small caps take the lead!
