NOTABLE OBSERVATIONS AND TRENDS:
- The healthcare composite has been a bottom 3 performer across all time frames.
- The Oil+Gas composite has been strong recently as a top 3 performer L/63, L/21, and L/10 days.
- The Large Cap composite is essentially unchanged over the L/252 and L/126 days.
- PMM has continued to outperform. The long gold and gold producers trade has been the trade of the year.
- PMM is up 60% (log returns) over L/126 days!
- An anecdotal observation: When every composite is all positive(negative) returns over the L/63 days or less, there has been a tendency for the markets to mean revert. Notice the return range compression for both best/worst performers over L/10 days. Seems like there is either a lack of catalysts or indecision among market participants.