Sector Rotation, AI Spending, and What Market Momentum Is Telling Us with Miles Clark (Ep. 93)

Markets can feel calm on the surface while powerful shifts happen underneath. Are recent pullbacks a warning sign, or simply part of a broader rotation? In this episode, Robert Curtiss welcomes back Miles Clark of Nasdaq Dorsey Wright to break down sector rotation, weakening tech leadership, and renewed strength in international equities. They explore how momentum strategies respond to shifting trends, why AI spending faces rising scrutiny, and what participation indicators reveal beneath flat index performance.  The conversation also covers sentiment signals, precious metals, crypto volatility, and the importance of selecting the right benchmark. Miles shares key insights: Why six sectors now outperform the S&P 500 after years of narrow tech leadership How momentum strategies adapt when former winners begin to weaken What sentiment data suggests when bears begin to outnumber bulls The impact of massive AI infrastructure spending on tech valuations Why benchmark selection matters more than chasing index headlines And more! Resources: Educational videos (bottom of the page)   Connect with Miles Clark : LinkedIn: Miles Clark Nasdaq Dorsey Wright Connect with Robert Curtiss: [email protected] (626) 795-2944 About Robert Curtiss  LinkedIn: Robert Curtiss Facebook: Robert Curtiss SEIA LinkedIn: SEIA   About Our Guest: Miles currently works as a Research Analyst for Nasdaq Dorsey Wright (DWA), a boutique investment advisory and asset management division of Nasdaq focused on providing quantitative strategies to Wall Street and professional money managers globally. Since 1987, DWA has been a recognized expert in relative strength and momentum through the application of Point & Figure (XO) charting, as well as a thought leader in tactical portfolio construction. Miles joined the DWA team as an intern in 2021 and now creates technical-based analysis and client-facing research in the firm’s Daily Market Analysis segment, with more focused coverage in the communication services, industrials and cryptocurrency spaces. Other areas of involvement to note include supplementing broad-based technical indicator and research projects and the creation of weekly media distributed to prospective clients.