Clint Sorenson, CFA, CMT
WealthShield
Summary
Business Cycle
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ISM PMI: Growing
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ECRI Leading Economic Indicators: Growing
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US Dollar: Negative Trend (inflation)
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Interest Rates: Positive Trend (top of the range?)
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Inflation: Still low
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Credit Spreads: Risk On
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Treasury Curve: Flattening but not inverted (Risk On)
Market Trends
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Stocks vs. Bonds: Stocks
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Stocks vs. Gold: Stocks
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High Yield vs. Treasuries: High Yield
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TIPs vs. Treasuries: TIPS • International vs. US stocks: US Stocks
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Dow Transports vs. Dow Industrials: Industrials
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Nasdaq vs. S&P 500: Nasdaq
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Small Cap Stocks vs. Large Cap Stocks: Large Cap Stocks
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Value vs. Growth: Growth
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Emerging vs. International: Emerging markets
Valuations: Overvalued
Asset Class Relative Strength- Risky assets are favored
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