Current Themes

Noticeable Themes

- Value in short term upward trend versus growth

- Cyclical stocks rolling over versus Defensive stocks

- S&P Low Volatility ETFs starting to outperform the S&P 500 on a relative basis

- US Small Caps (IWM) neutral vs US Large Caps (SPY)

- Emerging Market equities neutral vs Developed Market Equities

- Safe-Havens Surging