U.S. Equity Strategy Updates

The equity market’s rally took a bit of a breather in December yet still delivered its eighth consecutive positive month on a total return basis. The S&P 500 Total Return Index...

Last month we discussed the increasing prevalence of the “bubble” question. During November that chorus only grew louder, and was often accompanied by the refrain “Why worry when the market is at all-time highs?” This sounds like...

The equity market’s relentless march higher since its April low has given way to an increasing chorus of investors asking “Is this a bubble?” Indeed the market...

Last month we discussed the market’s seasonal tendency for weakness in September. The market convincingly bucked that trend this year and reached a notable performance threshold on a longer-term basis...

Many markets across asset classes can demonstrate seasonality to their historical performance, and the U.S. equity market is no exception. While the summer months typically deliver a favorable return profile, September has certainly earned its reputation as the least favorable month of the year for U.S. equities...

Many investors have likely heard some version of the market adage “The trend is your friend until the end when it bends.” The U.S. equity market stayed true to this notion and continued its rally through July as...

The powerful equity rally continued through June as the S&P 500 Total Return Index returned +5.09% for the month and has now returned +6.20% year-to-date. After reallocating to 33% S&P 500 exposure and 67% T-Bills exposure in mid-May, the MarketVector™-GammaRoad U.S. Equity Strategy Index...

What a difference one month can make. The market’s impressive rally from the April lows continued through May, as the S&P 500 Total Return Index returned +6.29% for the month. This brought the market’s year-to-date return at +1.06% back into positive territory for the first time since January. The MarketVector™-GammaRoad U.S. Equity Strategy Index (Bloomberg: MVGMMA Index) held 100% T-Bills exposure through mid-May, until the market’s rally was sufficient to turn the strategy’s price trend measure bullish once again. As a result, the strategy reallocated to...

The S&P 500 Total Return Index fell modestly in April, although it likely did not feel anything like “modest” for equity investors. The market swiftly plummeted -11.19% through the first 6 market days of the month, before staging an impressive rally to finish down -0.68% for April and down -4.92% year-to-date. The MarketVector™-GammaRoad U.S. Equity Strategy Index (Bloomberg: MVGMMA Index) maintained its 100% T-Bills exposure throughout April and returned +0.34% for the month and +1.18% year-to-date. The primary question on many investors’ minds might be...