Julius has revamped his portfolio analysis by shifting the focus from broad asset classes to specific sectors, using Relative Rotation Graphs as his main tool.
He notes that commodities continue to outperform, while the S&P 500 ETF (SPY) and both government and corporate bonds are falling behind the traditional 60/40 mix.
Among equities, materials, energy and industrials are posting gains, whereas technology, financials, communication services and consumer discretionary are losing momentum.
With large‑cap sectors under strain and SPY hovering around the 675 support level, Julius warns that downside pressure on the S&P 500 is building.
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