With 2016 officially half over, the celebratory nature of the stock market is being masked by another telling trend: Defensive sectors are outperforming higher risk areas.
Formerly hot groups drenched with elevated risk like solar energy (NYSEARCA:TAN) and biotechnology stocks (NasdaqGS:IBB) have fallen out of favor and are down more than 20%,
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Never mind how the U.S. stock market is posting modest year-to-date losses close to 2%. Momentum stocks are up and so is risk taking.
A comparison of the iShares MSCI USA Momentum Factor ETF (NYSEARCA:MTUM) – a good proxy for the risk appetite of bullishly trending stocks –
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