From Chief Investment Officer Tom Veale,
Well, the first week of the New Year wasn’t conclusive on where we’ll end 2023. It was not a complete change of personality from 2022 but seemed to be a bit more selective. There were about 1/3 more New 52 Week Highs than Lows for last week’s trading. Of interest in looking back at 2022 is how much variance there was from one business sector to another. This graphic shows several things: 1) room for reversion to Mean, 2) impact of weights per sector in the S&P 500 and 3) why managing the S&P500’s Sectors can potentially be more profitable than just owning the SP500 Index fund.