YouSaid · the spoken record

Stephen Suttmeier

lines on the record: 146
first: 2023-12-21
most recent: 2023-12-21
sittings or episodes: 1
sources: podcast

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“Higher prices, meaning that there's demand for gold at higher prices. And if this technical formation works, I mean, and gold can clear those hives that have occurred over the last three, four, five years, then you got the pattern. And you can go much higher than where gold is today if we do complete that pattern. And gold was interesting too, because if I put my equity hat on and look at gold the way I look at a stock, it tagged its 200-week moving average perfectly rising 200 week moving average, which means secular uptrend. Even though gold is consolidated, it just lends more confidence that the pattern we're in now is more likely to break higher than break down in just looking at just evidence-based type of technical analysis.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, a few times, though. Now you have three probes up and a probe down. So you got the cup, and now you're forming the handle. The handle is a lot shower oiler in terms of price decline”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Pattern looks like. Yeah, I'm going to define it because it's Bill O'Neill coined it, right? Right. The cup, the handle, the cup is this big rounding type of base. Stock rally. Sometimes it goes to a new high, which it did. So it did go above where it was briefly.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I mean, if you look at the research that my colleague puts out, Paul Siana, I mean, there's like a huge base on gold that if it ever breaks out, it can go up a lot. And the events of the world have enhanced that pattern a little bit.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I would say it's the latter in the charts or not. So, I mean, put it this way, market is a discounting mechanism. And sometimes it discounts things in advance, of course. But when things are a surprise, it discounts things quickly. And I think that's really the way to think about it. And what's interesting, I've noted, I mean, maybe there's a little bit of gold taking on its old-fashioned.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, and that advanced the client line broke out during the summer, and even though the market correction has taken a lot of indices below their summer breakout points, this particular advanced decline line remains above its breakout point, meaning that there are pockets of the world that are working better than others. Out there. So I think that's important to point out. And so global breath hasn't rolled over. So it tells us that we're in a corrective phase within what could very well be a market that may yet have another up leg to it, not just in the US, but also globally.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so I mean, one of my favorite indicators, and I would lump it in with the good would be the 73 country index of market breadth. So the Abbas decline line for 73 country indices. U.S. is one of those.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Industrial, you know, trying, but not really convincing. Energy holding in just fine materials, it depends on the stock. You can find some winners, find some losers. Financials, it's really challenging because two things. One, the absolute chart looks okay as long as it can hold those prior highs from 2007, which it has done. But the relative chart, not okay. But within that group, you can find winners in things like exchanges and stuff like that. Look really strong relative to the laggards of the group, which just happened to be the sector near and dear to my heart, the banks. Not because you work for a bank.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“No, I mean, what you want to see, I mean, sure, that's a good question. So if you have a bullish sector, I mean, I would argue tech is still a tech incom services still in quite bullish position. So, if you have a stock in a bullish sector that's not acting well, chances are it's an idiosyncratic problem with that stock or chart. Probably a fundamental reason for it too, more so than a technical reason because the technicals are reflecting the fundamental situation to some extent. So I think right now, just looking at sectors and looking at the way things look on the relative price charts along with the absolute price charts, it seems like tech is holding in fine. Com services holding in fine, semiconductors trying to hold their trends.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I mean, the sector, I mean, this is, I've been shying away from having bold sector calls this year, and the reason why is you can find bullish embarrassed stock charts everywhere. Matter which sector you're looking at, even utilities. What does it mean when?”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“And what I'm trying to say is, all right, when does stuff start to creep into investment grade? You know, the lower tier. And it hasn't happened. I mean, that is well below 2%. And when you get above 2.5, that's when things really start to struggle.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, just me is financial conditions aren't deteriorating to any great extent based on that indicator. Which is an indicator I like to use credit markets have been blown out either. So that spreads haven't blown out either, at least on the”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“So those are some better looking indicators. I would argue that when you look at the Chicago Fed financial conditions index, it's held in like a champ. So that's another one. What does that mean?”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Right, so yeah, we just wanted to be a little tongue in cheek with some of our stuff here. So we noticed that the percentage of stocks above 50 day moving average is on the S&P actually did not go to a lower low as the S&P went to a lower low just last Friday. So that has a potential to be good, maybe triggers a seasonal rally. indicator we threw in there was the I think they call it the NAAIM exposure index that around 24% versus oversolds in the low 20s That's getting closer. So exposure among asset managers and market participants in equities is a lot lower than it was. So a lot of the, I mean, I always use the term, a lot of the froth has been blown off the cappuccino. Over the last three months.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“It probably did. It probably did to some extent. And I think in 2022, you started, I mean, you're already in a bear market from peaks in 2021. You already had indicators topping out in 2021 in the middle of the year and then late in the year. So we were well entrenched with economists looking for a massive hard landing at that point. So it would make sense that sentiment would be off the rails to some extent given that outlook.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“So, I mean, that's the reason why I think we are moving into a more normal environment where actually getting a really normal type of correction rather than something that lasts only three to five percent. We're getting a normal 10% plus type of pullback.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Right. So, I mean, look, I mean, get a return on your cash, which is great. A lot of people have taken advantage of that. So, you know, the other factor is, I mean, when is that record level of cash going to be put to work in stocks? I mean, with people making 5% to 6% on money market funds, it's going to take a little bit more, which is by design. The Fed wanted people to take on risk with rates at zero. And now, you know, they don't want people to take on as much risk in some regard. So it's going to take a little more confidence and equities because you get your hurdle retire. That makes sense.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“And it's inflation, you know, surging again. You know, we can't have that happen Very interesting when I get people asking me stuff like when is in the market going to get back to normal? Like, well, define normal. Well, interesting, you need to be lower, you know, 1%. I'm like, well, That's not normal. And, you know, I find out these guys have been in business”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Right, you know, the interesting thing is, I mean, if COVID didn't happen, where would your yield low be? It's either 2012 or 16. You know what I mean? So, I mean, maybe this secularizing yields it a little longer than people think it is. But again, the market did drop on the 10-year note yield to like, what, 0.3 on the 10 during COVID. And this is, and you look at the yield chart, it's like the fastest rise we ever gotten. So if we are going to follow that period in the 50s, I mean, right now, I think we're probably, I mean, if I'm looking at stocks and overlaying it with interest rates and just trying to think about how it most, where we are in that particular analog, it's probably late 50s, early 60s, in some regard. We've been secular bulls, but what is not a characteristic of a secular bull? Its interest rates above 575.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I mean, obviously that's not my call as the equity strategist at BFA, but when you look at the tenure yield The view is a secular rise in interest rate. And if I'm putting on my equity hat and I have to say, all right, what was the last time you had interest rates rising from levels around 1%? I mean, here we went a lot lower during COVID, obviously, but. Mid 1940, so 1946 into 66, a 20 year rise from about one and a half to about 575. Over 20 years”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“But it takes time. It takes time a lot longer than people think. I mean, I'm sure people were calling for a bubble in 1998.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“With this environment for these particular names. So it just seems to me with these particular size fragments working better than others. So Megacat Market potentially at this point, just looking at this. If it changes, I'll change. I'll change my view pretty quickly if it starts to change. But right now, I know a lot of people really want to see more alpha generated by more stocks. But the Dorisa doesn't happen. But I do think instead of being the magnificent seven, maybe it's a nifty 50. Because the OEX is breaking out.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“And also, I think pharma was involved in that too and other large cap stocks. Here's the other interesting thing. You look at the S&P 100 index right now It does appear to be breaking out from a multi-year bottom versus the S&P, meaning mega caps leading large caps. The last time we saw a breakout like that was 1998. I find it curious that that's happening and the Equal Weight lagging the cap weighted because in the late 90s or the mid to late 90s, the Fed did hike rates quite a bit. Right. And then they took some off and then hiked into 99, 2000.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“It should be bullish, and it gets wearisome when in my world, when this lack of performance for equal weight versus cap weight leads to weakening breath indicators, which is why that percentage of stock's above 200 day moving average seems scary to me. Now, I will say, when you look at the equal weight versus cap weighted ratio lagging cap weighted. Guess what period of time that happened in the past where the equity market was really strong? 1994 to 2000.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, that's where you're getting your alpha. I mean, in terms of market breadth itself, I mean, the advanced client, the SP went to an all-time high over the summer. Should be bullied.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, and that is a scary chart when you look at it relevant to the SP. Scary because if the technicals work on this, they're still more underperformance coming for that. The pattern meaning that if you look at the pattern going back a decade or more, there is a potential that the equal weighted index is forming what would be called a head and shoulders top versus the S&P, the cap-weighted index. I hope it doesn't work because in our firm, you know, we have strategists that want to see the equal aid at work. And I think it would probably be healthier for the market if it did work.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“It just, I mean, I don't know. I mean, we have to, let's see if they get back to oversold levels. But that's something that's a bit challenging. But again, I think it all has to do with the fact that the equal weighted index has been lagging the cap-weighted index pretty much all year.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“The percentage of stocks above 200 day moving averages, they had some bullish divergences in the summer and they broke to new year-to-date lows.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm sure over the next few weeks there's going to be patterns developing and other pockets of the market where things that have been left, I mean, I don't want to use the term left for dead, but I guess that's the only term is Halloween, so I might as well. I mean, they can rally quickly 20, 30%. And people like, oh, I missed it. And then three months later, it's up another 20 or 30%. I mean, that's the way those patterns tend to work.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Any type of I mean, I think it probably happened with the energy names not long ago, you know, coming off the lows of 2020. They moved up a lot. Oh, it's already up 30%. Well, it went up another 50% after that. You know what I mean? People actually have that argument. Oh, I missed it, so I'm going to wait for it to dip and it doesn't dip. I mean, that's what happens in that sort of environment, you know, when you start to see that happen.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I can't talk about Bitcoin. I don't think I'm allowed to do that at V of A security, of course. But, yeah, I mean, look, I mean, if And that's, and we're seeing that in other areas of the market as well. No, it just means nobody's there. Nobody cares.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“It was a similar pattern that we have now, and it's maybe a third of the way through it. Wow. Because if that continues, energy should be able to outperform if history rhymes. I mean, the oil chart looks like it could be building a base. You know, it broke out and moved back and retested some levels of support. But we'll see how that pattern develops. I mean, but it does have more of a look of building a base within an uptrend for that. So if that does work in oil stays stable to higher, energy should work to some extent. I mean, obviously this week or last couple weeks there's been some. MA activity where some of the bigger names started to get hit a little harder, but it didn't derail the sector at all.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so that's the one cyclical sector that has started to work. In fact, it does look an awful lot like the pattern that we had for that on a relative basis, meaning outperformance off the relative low from 98 to 2000. And that relative uptrend continued.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Relative rotation graph. And what it's telling us now is that some of the cyclical sectors like financials, materials, industrials, they had a chance to rotate into a bigger leadership position and failed. And technology and discretionary and com services had a chance to rotate into a more bearish leadership position and did not do that. Looking at that, it's like you just got to think about what is the risk here. To investors that are looking to get more Participation, but more alpha in the market from a greater number of Risk is that doesn't happen if this pattern holds. The risk is that tech can continue to lead, comm services continue to lead, and these cyclical sectors can continue to lag since they weren't able to take on the mantle of relative leadership in the relative rotation graph. So they were not able to move into an uptrend”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“A little stronger. Stronger. Yeah. I mean, so when we look at the NASDAQ 100, for instance, it is still, I mean, it just tested the 40-week moving average last week. And well above the 200-week moving average. So still stronger. If you'll get relative strength charts, you know, the... The NASA 100 still has a stronger pattern than the SP at this stage. Technology, you know, the sector itself. If technology still has a stronger relative chart pattern, it's been sideways, but in a stronger trend. And you look at the RRG on Bloomberg, for instance.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“And a rising 200 week moving average, which we do now. The pattern is a cyclical uptrend or bull market and a secular uptrend or bull market. Where are we now in the context of that, given the 10% pullback that we've gotten since the July highs? It is a correction of that pattern. We are below the 40-week moving average around 42.50.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I mean, I keep it simple with those sort of trends. Whenever we go on television, we always pull up the same chart SP 500 with a 40-week moving average and a 200 week moving average. The 40-week moving average, for those who look more at daily charts, can associate that with a 200-day moving average. So we gauge the cyclical trend on the market using the 40-week moving average, and we gauge the secular trend as the 200-week moving average. So when you have a rising 40-week moving average, which we do now,”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“And guess what? I mean, guess when the market started correcting? When people started taking those calls off the table and calling for a soft landing. So, you know, as the market was rallying, it was telling us something. And then as soon as the economists started confirming what it was telling us, that's when it corrected. So now we need to see what event that we're discounting now and hopefully eventually we discount it completely and things can get a little bit better.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, think about where we were a year ago, 100% of economists calling for recession and the market rallies. Past two years.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Because think about it. I mean, you know, if a stock's rallying, it's doing it for a fundamental reason. Most of the time. I mean”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Where you look for names like that, you know, where the relative charts are improving, meaning that, oh my gosh, you know, the SP is corrected 10%. This stock's only down five. All right, why is that? Is there something going on fundamentally I need to look into? And that gets the fundamental analyst thinking. And if I was doing more fundamental work, it would tell me, all right, I really got to look at these companies to see, hey, what's going on? Are estimates coming up? Or are the revisions improving? Or, you know what I mean? I think that's how. Not only a good way to interact with some of the institutional client base, but also and private client base as well, but also just as a process. Because technical analysis is nothing without fundamentals. I mean, technical analysis, somebody once coined it lazy man's fundamental work.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“A random example. Not talking about Apple or a prediction there at all. But what I'm saying is it's like you can find a time using technical analysis to say, you know what, I've been bullish this stock, but it's starting to lag the market. Maybe it's time for me to revisit my fundamental thesis. And that's good. That's useful information to somebody because what I've noticed is when a stock and an uptrend starts underperforming the market, guess what the, I mean, I haven't tested this yet, but the theory is, and if I test the hypothesis, and this theory works, the theory is a weakening relative often precedes fundamental information that's less bullish than people expect. And I've seen it happen a lot. And on the other side, too, a stock trending down, all of a sudden the relative ratio is starting to improve. In fact, I mean, this is the environment now with the market correcting.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Unless the other side, you know, weak relative, weak absolute, that's where you get your core short. And I tell them like, you know where it becomes really interesting is when you have a stock that's been trending up for a while, but all of a sudden the relative ratio starts lagging, meaning that if I'm a fund manager at the end of the quarter, oh my God, you know, Apple's up 15%. Oh, wait, but the market's up 20%. I'm lagging. You know, then they kicked that out of the foil and guess what happens? The stock starts to form a top because of selling pressure. And the same thing on the other side. So it's like...”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“And I think that's a big misunderstanding because most people are of the mentality in the draft kings world that technical analysis is a good way to enhance their gambling habit. But what we're really looking to do is manage risk reward. I mean, you know, I always tell hedge fund clients when I'm talking to them. I mean, a lot of them are long short, but they're like, I'm like, here's how you identify, here's how I would identify a core long. First and foremost, you identify what your benchmark is, how you measure in your performance, and you take your absolute price, and if the absolute price is trending up along with the relative price, that's where you look for core alongs. And if you've got good fundamentals there, even better.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I mean, I think sometimes I get emails where they think I'm like a magician trying to pull a rabbit out of a hat. They're asking for something technically can't do. You know what I mean? They're like, you know, I mean, look, I mean, if you give them a few good calls, they think you can predict the future, but we can't. We're just gauging risk and reward”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, have had a 10% correction. And we'll see what happens going forward. But I would think, you know, not that this is a prediction or anything, but if that correlation holds, and if the S&P get to seasonal bounce, which normally is something that happens around this time of year, one would think that if this correlation continues to hold, that a seasonal balance for stocks likely requires yields to be stable to lower or the dollar stable to lower. And we'll see how that plays out, but that seems to be the correlation. The intermarket correlation, that seems to be, in my mind, the most important one right now.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“And that's helpful, also yields topping out as well in September, October last year. So there's a negative correlation between the dollar between stocks. Dollar in bonds. So meaning, you know, higher interest rates, lower stocks, higher dollar, lower stocks. That's been the trend. So the S&P rallied from last October, ran into trouble this summer, you know, and which is where in the dollar bottomed out and yields to really rise again in earnest. And now here we are. Oh, God.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, I think they do. I think we've seen that over the last year or so. So here's, I'm looking at it near term, not making any sort of forecast or anything like that. But last year where we stood, market was very nervous, S&P around the 200-week moving average finally started bottoming out. But what was the ingredient to get that low? The market. It was the dollar topping”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm sure you can. I mean, I haven't done that much work. I mean, you know, a PE ratio, you can chart that. I mean, pretty easily and do analysis on that. I think it's probably more useful in economic indicators like the unemployment rate or the claims data. And we actually did some scenario analysis around that recently just talking about, hey, what happens if the employment rate rises versus falls? What environment does the S&P work better in? And the obvious answer is the obvious answer, right? It's not necessarily true because there's some periods of time where the unemployment rate does rise where the S&P actually does. And there's other periods where the SP does not. And I really, you know, it depends on what your market tide is.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source
“I think there is still use for them. I will admit, though, sometimes I do wonder whether sentiment becomes more of a momentum indicator, which I think makes sense because let's face it, I mean, if the market rallies 15% and the asset manager is still here and not. Buying the rally, then something else is happening. So sentiment does need to turn into momentum, meaning that sentiment needs to start to confirm price action.”
2023-12-21 · Masters in Business · Stephen Suttmeier on Chart Portfolio of Global Markets · IDENTIFIED FROM THE TRANSCRIPT · source