Dow Jones Utilities
The MTI’s move to its Negative zone with the October 1st reading was driven by a few trend breakdowns—ones that could well reverse in short order. Recognizing the volatility of these signals (and perhaps having been “conditioned” by the one-way market of the last 18 months), we opted for just a minor asset allocation adjustment.
If many of the typical leaders of a new bull market aren’t leading, what is? Technology, obviously—and the bigger, the better.