Covestor model: Breakouts and Reversals
July saw an on par performance with the S&P 500 index (SPX). The route to the 1.2% gain was achieved mostly through small short positions and reduced volatility in what was a somewhat volatile month for the major equity indices.
Ultimately, one will prove more correct than the other, but a major divergence can persist for quite some time. The pools of investors have different enough viewpoints to allow the divergent theses to co-exist for a while.