Market Cycle Report
October 04, 2026
PHASE: MID EXPANSION CONFIDENCE: 48/100
Overweight Sectors
- Industrials
- 90/100 - Peak capex, global growth
- Materials
- 85/100 - Commodity demand strong
- Energy
- 80/100 - Demand growth, pricing power
- Technology
- 75/100 - Earnings momentum continues
- Financials
- 70/100 - Credit growth, M&A activity
Underweight Sectors
- Utilities
- 35/100 - Growth elsewhere more attractive
- Real Estate
- 40/100 - Rising rates headwind
- Consumer Staples
- 40/100 - Low growth premium expensive