The Four Horseman of the Next Bull Market
Is this a new equities bull market? Will the lows be revisited? The flip side of the same question, I suppose. Technology, Transports, Consumer Cyclicals (HOG, GT and CTB all up sharply) and Capital Goods stocks all outperforming the S&P today, typical of early bull market action. It is too early to pick the individual 4 Horsemen Stocks of the next bull market, but the 4 sectors should lead if things are getting off on the right foot. The Financials are up in line with the market while the defensive sectors of Energy, Utilities, Healthcare and Consumer Non-Cyclicals are lagging.
The S&P 500 is up sharply from its lows, but if the early March lows of S&P 500 at 670 are retested, it will look and feel like a bear market as the averages will have declined about 25%.
