V2 Model July 23, 2022 Update

July 23, 2022

Recap

The U.S. major market indexes finished higher this week as growth names outperformed value given solid gains from the growth-heavy consumer discretionary and technology sectors. Meanwhile, the first big batch of second-quarter earnings results this week were not as weak as some analysts had feared. Some very strong breadth readings during the latest leg of the rally, ultra-bearish sentiment highlighted in the latest Bank of America Global Fund Manager Survey, and signs of cooling inflation likely helped entice some buyers to come back into the market.

The V2 Ratio crossed into positive territory and the model moved to a partial long position. V2 was down slightly this week.

Performance This Week / YTD

V2 -.19% / -3.18%

SPY +2.59% / -16.20%

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