Charts of the Day: Style Shift Due?

In this morning's note I suggested that a "regime" change may be in the offing. It's always interesting to track style relationships over a few market cycles.

Here's a look at the late-90s. The white line represents the S&P 500 Growth Index, the blue the S&P 500 Value Index:

Here's from the late-90s (tech boom) peak to the residential real estate boom peak:

Here's from the real estate boom peak to current:

Hmm.....