Caught off sides in the market. This has been painful.
Before today, the Nasdaq was down -9.0% from its most recent high – just 15 days ago. The S&P 500 down -4.0% over the same two weeks. But for American Muscle, no strategy got out of July unscathed. What went wrong?
The Great Rotation
One major U.S. index that was not struggling in July was the Russell 2000. It’s a market index composed of 2,000 smaller U.S. companies, and so far in July, the Russell 2000 has outperformed the Nasdaq by 12.8 percentage points. It’s on pace for its largest monthly lead since February 2001.
Before today, the Nasdaq was down -9.0% from its most recent high – just 15 days ago. The S&P 500 down -4.0% over the same two weeks. But for American Muscle, no strategy got out of July unscathed. What went wrong?
The Great Rotation
One major U.S. index that was not struggling in July was the Russell 2000. It’s a market index composed of 2,000 smaller U.S. companies, and so far in July, the Russell 2000 has outperformed the Nasdaq by 12.8 percentage points. It’s on pace for its largest monthly lead since February 2001.
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