Coming into 2024, we already had a nice list of things that needed to happen to approach the market from a much more defensive perspective.
Let’s remember that throughout the 4th quarter we were going out of our way to be more aggressive than even we were accustomed to.
It was a different environment.
And while we did not know what 2024 would bring, we still don’t, at least we came in with a good list of developments that would likely be occurring before a more severe correction was underway.
Remember, the new highs list peaked on December 14th. So that means we’re over a month into a market correction that you can only see taking place underneath the surface if you bother to look.
Here’s how each of the sectors have performed during this correction: [Read more…]