Day to day gyrations offer a veritable cacophony of algo pings on the hype and hope of central bankers. But this big picture portrait of North America’s S&P 500 and TSX along with key sectors (financials, reits, dividend stocks, energy, materials, gold cos) cuts through confusion. Ah yes, downturn progressing…always slow at first–and this time no doubt drawn out by a couple of years on QEternity–but moving toward its natural fruition all the same. Behold the business/market cycle now playing in markets all around the world.
Source: Cory Venable, CMT, Venable Park Investment Counsel Inc.
So far, most commentators and participants don’t see it, but then most are not looking. Just the opposite, most financial types are paid not to look. But ready or not, bear markets are an inconvenient truth of every business cycle.