Thursday, June 16, 2022 8:49:09 PM
This chart is inelegant because I'm too lazy to find a better way to present it so it might take some explaining but I think it's worth everyone's time to understand.
The top pane is a 1-year chart of the SPX. The next three panes are comparisons or relative charts of large-cap growth vs. large-cap value, mid-cap growth vs. mid-cap value and small-cap growth vs. small-cap value.
Moving from left to right we can see that small-cap growth and mid-cap growth began to lose ground to similar sized value stocks last September. Then mid-stream in the downturn growth across the spectrum aligns as they all continue to bottom with the SPX. And recently growth has recovered somewhat with small-cap growth bottoming first on a relative basis followed by mid-cap growth and finally large-cap growth.
As I always say, this is far from a guarantee we're at the bottom, just another signal that Wall Street is recalibrating their investing aim.
The top pane is a 1-year chart of the SPX. The next three panes are comparisons or relative charts of large-cap growth vs. large-cap value, mid-cap growth vs. mid-cap value and small-cap growth vs. small-cap value.
Moving from left to right we can see that small-cap growth and mid-cap growth began to lose ground to similar sized value stocks last September. Then mid-stream in the downturn growth across the spectrum aligns as they all continue to bottom with the SPX. And recently growth has recovered somewhat with small-cap growth bottoming first on a relative basis followed by mid-cap growth and finally large-cap growth.
As I always say, this is far from a guarantee we're at the bottom, just another signal that Wall Street is recalibrating their investing aim.
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