The chart highlights the S&P 500 High Beta ETF (SPHB) relative to the S&P 500 Low Volatility ETF (SPLV). Zooming out, my analysis highlights the failure of high beta shares to hold above the prior swing highs, while momentum (as per the 14-week RSI) is nearing a breach of the upward trend.
Bottom Line: Investors appear to be positioning themselves within low volatility shares/sectors while rotating out of shares/sector with a higher beta.
Lester Davids
Analyst: Unum Capital
コメント