Not Risk-On. Not Risk-Off. Rotation.
In our recent editorial, The Hard Asset Regime Is Not a Trade — It’s a Structure, we examined the persistent leadership emerging in gold and materials and argued that real assets were no longer functioning as short-term hedges, but as structural participants in the market.
The current Stock Trends dataset extends that thesis — but in a different direction.
The 13-week ST-IM probability model is no longer pointing to a narrow leadership cluster. It is identifying a market redistributing capital across multiple durable themes simultaneously.
This is not a simple “risk-on” environment.
It is not a defensive “risk-off” retreat.
It is rotation.

An admitted cynic, it's obviously very high praise when he says he likes StockTrends because of its "simplicity, utility, openness, [and] honesty," and in addition to having "no hidden agenda" is "understandably documented [and] historically verifiable." And, he adds, "It lets me see a lot of things without doing a lot of work." Globe and Mail