Relative Performance

(1) Sorting out the patterns. (2) Consumer Discretionary stocks tend to be early cycle outperformers, but may continue to do so later this time. (3) Not too many outperformers among Consumer Staples. (4) Health Care can be a late cycle bloomer. (5) Financials should outperform, but may remain on rollercoaster in cliff scenario. (6) Energy and Materials unlikely to outperform if global growth remains weak. (7) Fracking should continue to inflate Industrial Gases and Specialty Chemicals. (8) Industrials may be market performers for a while. (9) New technologies may be commoditizing IT and weighing on sector’s stocks.