</tle><path fill-le="evenodd" clip-le="evenodd" d="M12.1303 0.000379039C10.9833 -0.00959082 9.87819 0.431464 9.05309 1.22855L9.04556 1.23593L7.79145 2.48303C7.50587 2.767 7.50453 3.22877 7.78844 3.51441C8.07235 3.80004 8.53401 3.80139 8.81959 3.51741L10.0698 2.27423C10.6194 1.74503 11.3546 1.45229 12.1177 1.45892C12.8824 1.46556 13.6139 1.77236 14.1546 2.31323C14.6954 2.8541 15.0021 3.58577 15.0087 4.35065C15.0154 5.11353 14.7229 5.84857 14.1943 6.39829L12.0116 8.58145L12.0115 8.58155C11.7159 8.87739 11.36 9.10617 10.9682 9.25237C10.5764 9.39857 10.1577 9.45878 9.74051 9.42889C9.32337 9.39901 8.91752 9.27975 8.55051 9.07918C8.1835 8.87862 7.8639 8.60146 7.6134 8.26649C7.3722 7.94396 6.91526 7.87807 6.5928 8.11933C6.27034 8.36059 6.20447 8.81763 6.44567 9.14016C6.82142 9.64261 7.30082 10.0584 7.85134 10.3592C8.40186 10.66 9.01062 10.8389 9.63634 10.8838C10.2621 10.9286 10.8901 10.8383 11.4779 10.619C12.0656 10.3997 12.5994 10.0565 13.0429 9.61274L15.2302 7.42494L15.2391 7.4159C16.036 6.59062 16.4769 5.48529 16.467 4.33797C16.457 3.19066 15.9969 2.09316 15.1858 1.28185C14.3746 0.470545 13.2774 0.0103489 12.1303 0.000379039ZM7.29806 5.11625C6.67234 5.07142 6.0443 5.16173 5.45654 5.38103C4.86882 5.60031 4.33502 5.94355 3.89153 6.38727L1.70423 8.57506L1.69534 8.5841C0.898438 9.40939 0.457483 10.5147 0.467451 11.662C0.477418 12.8094 0.937512 13.9069 1.74864 14.7182C2.55976 15.5295 3.65701 15.9897 4.80407 15.9996C5.95113 16.0096 7.05622 15.5685 7.88132 14.7715L7.89035 14.7626L9.13717 13.5155C9.42192 13.2307 9.42192 12.7689 9.13717 12.4841C8.85243 12.1993 8.39077 12.1993 8.10602 12.4841L6.86392 13.7265C6.31432 14.2552 5.57945 14.5477 4.81675 14.5411C4.05204 14.5344 3.32054 14.2276 2.77979 13.6868C2.23904 13.1459 1.93231 12.4142 1.92566 11.6494C1.91904 10.8865 2.21146 10.1514 2.74011 9.60172L4.92287 7.41846C5.21854 7.12262 5.57437 6.89384 5.96621 6.74763C6.35805 6.60143 6.77674 6.54123 7.19389 6.57111C7.61104 6.601 8.01688 6.72026 8.38389 6.92082C8.75091 7.12138 9.0705 7.39855 9.32101 7.73352C9.56221 8.05605 10.0191 8.12194 10.3416 7.88068C10.6641 7.63942 10.7299 7.18238 10.4887 6.85985C10.113 6.3574 9.63359 5.94165 9.08307 5.64081C8.53255 5.33997 7.92378 5.16107 7.29806 5.11625Z"></path></g></svg></div><div translated class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-normal--s54Wf ontend-pencraft-Text-module__font-text--QmNJR ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__body4--Pl3xY">Copy lk</div></button><button tabInx="0" type="button" class="button share-actn"><div class="actn-in"><svg role="img" width="16" height="17" viewBox="0 0 16 17" fill="none" stroke-width="1.8" stroke="#000" xmlns="><g><tle></tle><path d="M10.6543 1.38723C10.3533 0.960814 9.95383 0.61341 9.48976 0.374567C9.02902 0.137956 8.51908 0.0130716 8.00115 0.0100098C7.86087 0.0101844 7.72354 0.0502687 7.60519 0.125581C7.48684 0.200893 7.39237 0.308324 7.3328 0.435326L5.00368 5.67077H3.029C2.72335 5.66964 2.42059 5.73003 2.13876 5.84833C1.85692 5.96663 1.60177 6.14043 1.38849 6.35938C1.16707 6.57502 0.991841 6.83346 0.873459 7.11897C0.755078 7.40447 0.696022 7.71108 0.699885 8.02014V13.691C0.699885 14.3087 0.945273 14.9012 1.38207 15.338C1.81886 15.7747 2.41128 16.0201 3.029 16.0201H13.348C13.8951 16.021 14.425 15.8283 14.8438 15.4762C15.2626 15.1241 15.5434 14.6352 15.6366 14.0961L16.6493 8.4252C16.7252 8.09192 16.7252 7.74582 16.6493 7.41254C16.566 7.08205 16.4104 6.7742 16.1936 6.51128C15.9746 6.25 15.7017 6.03926 15.3936 5.89355C15.0762 5.7467 14.7306 5.67068 14.3809 5.67077H10.5328L11.0391 4.37457C11.2397 3.88784 11.3162 3.35894 11.2619 2.83533C11.1853 2.30894 10.9763 1.81065 10.6543 1.38723ZM4.75052 14.5518H3.029C2.91049 14.5525 2.79303 14.5296 2.68349 14.4844C2.57394 14.4392 2.47452 14.3726 2.39102 14.2885C2.23609 14.1199 2.14945 13.8997 2.14799 13.6708V8.02014C2.14913 7.901 2.17389 7.78328 2.22082 7.67377C2.26775 7.56427 2.33592 7.46515 2.4214 7.38216C2.50369 7.29576 2.60267 7.22698 2.71233 7.17998C2.822 7.13298 2.94007 7.10874 3.05938 7.10874H4.7809L4.75052 14.5518ZM10.6746 7.05811H14.3809C14.5145 7.05821 14.6462 7.08942 14.7657 7.14925C14.8875 7.20532 14.9948 7.28845 15.0796 7.39229C15.1675 7.49052 15.2301 7.60871 15.2619 7.73659C15.2922 7.8665 15.2922 8.00162 15.2619 8.13153L14.2493 13.8024C14.2087 14.017 14.094 14.2106 13.9252 14.3492C13.7619 14.4812 13.558 14.5528 13.348 14.5518H6.19862V6.45052L8.43659 1.38723H8.52773C8.9042 1.50037 9.23304 1.73413 9.4636 2.05252C9.69416 2.37092 9.81365 2.75627 9.80368 3.14925C9.8181 3.39741 9.78015 3.64583 9.69229 3.87836L9.23659 5.04292C9.15397 5.273 9.12623 5.51921 9.15558 5.76191C9.1877 6.00427 9.27425 6.23623 9.40875 6.44039C9.5535 6.6376 9.74028 6.80017 9.95558 6.91634C10.1774 7.03206 10.4244 7.0912 10.6746 7.08849V7.05811Z"></path></g></svg></div><div translated class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-normal--s54Wf ontend-pencraft-Text-module__font-text--QmNJR ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__body4--Pl3xY">Facebook</div></button><button tabInx="0" type="button" class="button share-actn"><div class="actn-in"><svg role="img" width="21" height="16" viewBox="0 0 21 16" fill="none" stroke-width="1.8" stroke="#000" xmlns="><g><tle></tle><path fill-le="evenodd" clip-le="evenodd" d="M2.22192 2.20503C2.36754 1.77115 2.78269 1.45455 3.26639 1.45455H17.9332C18.4169 1.45455 18.8321 1.77118 18.9777 2.2051L10.5999 8.02107L2.22192 2.20503ZM2.16639 3.94198V13.4545C2.16639 14.0529 2.66307 14.5455 3.26639 14.5455H17.9332C18.5365 14.5455 19.0332 14.0529 19.0332 13.4545V3.94206L11.0204 9.50462C10.7679 9.67991 10.4318 9.67991 10.1793 9.50462L2.16639 3.94198ZM20.4999 2.55809V13.4545C20.4999 14.8562 19.3465 16 17.9332 16H3.26639C1.85304 16 0.699707 14.8562 0.699707 13.4545V2.54545C0.699707 1.14379 1.85304 0 3.26639 0H17.9332C19.3407 0 20.4904 1.13441 20.4998 2.52818C20.5 2.53816 20.5001 2.54813 20.4999 2.55809Z"></path></g></svg></div><div translated class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-normal--s54Wf ontend-pencraft-Text-module__font-text--QmNJR ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__body4--Pl3xY">Email</div></button><button tabInx="0" type="button" class="button share-actn"><div class="actn-in"><svg role="img" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke-width="1.8" stroke="#000" xmlns="><g><tle></tle><path d="M6.785 1.92766C5.45134 1.57031 4.08049 2.36176 3.72314 3.69543L0.444815 15.9303C0.0874636 17.264 0.878901 18.6348 2.21255 18.9922L5.37495 19.8396V7.66664C5.37495 6.40099 6.40096 5.37498 7.66661 5.37498H19.4723C19.3299 5.30548 19.1788 5.24858 19.0201 5.20604L6.785 1.92766Z" stroke="none"></path><path fill-le="evenodd" clip-le="evenodd" d="M8.44161 7.4C7.86632 7.4 7.39995 7.86637 7.39995 8.44167V22.1081C7.39995 22.6834 7.86631 23.1498 8.4416 23.1498L22.1083 23.15C22.6836 23.15 23.1499 22.6836 23.1499 22.1083V8.44167C23.1499 7.86637 22.6836 7.4 22.1083 7.4H8.44161ZM10.3999 9.65C9.84766 9.65 9.39995 10.0977 9.39995 10.65C9.39995 11.2023 9.84766 11.65 10.3999 11.65H18.3999C18.9522 11.65 19.3999 11.2023 19.3999 10.65C19.3999 10.0977 18.9522 9.65 18.3999 9.65H10.3999ZM10.3999 14.15C9.84766 14.15 9.39995 14.5977 9.39995 15.15C9.39995 15.7023 9.84766 16.15 10.3999 16.15H15.3999C15.9522 16.15 16.3999 15.7023 16.3999 15.15C16.3999 14.5977 15.9522 14.15 15.3999 14.15H10.3999Z" stroke="none"></path></g></svg></div><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-normal--s54Wf ontend-pencraft-Text-module__font-text--QmNJR ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__body4--Pl3xY">Not</div></button><button tabInx="0" id="trigger193" aria-expand="false" aria-haspopup="dialog" aria-ntrols="dialog194" ariaLabel="View more" type="button" class="button share-actn"><div class="actn-in"><svg role="img" width="100" height="100" viewBox="0 0 100 100" fill="none" stroke-width="1.8" stroke="#000" xmlns="><g><tle></tle><circle cx="23" cy="50" r="9"></circle><circle cx="50" cy="50" r="9"></circle><circle cx="77" cy="50" r="9"></circle></g></svg></div><div translated class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-normal--s54Wf ontend-pencraft-Text-module__font-text--QmNJR ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__body4--Pl3xY">Other</div></button></div></div></div></div></div></div></div><div class="post-hear"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt post-label"><a href=" class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-medium--x7khA ontend-pencraft-Text-module__font-meta--U_nxy ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__transform-upperse--IDkUL ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__meta--jzHdd">Lears-Laggards</a></div><h1 class="post-tle unpublished">Market Breadth Wins</h1><h3 class="subtle">But Extreme Risk-On Has Peaked</h3><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-directn-lumn--Rq7pk ontend-pencraft-Box-module__paddg-bottom-16--KVxKv"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-directn-lumn--Rq7pk ontend-pencraft-Box-module__paddg-y-16--ohCEm"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-jtify-start--_8fEd ontend-pencraft-Box-module__flex-align-center--rSd6h ontend-pencraft-Box-module__flex-gap-12--rODKq"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt"><div class="pencraft ontend-pencraft-Box-module__flexGrow--mx4xz ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-align-center--rSd6h ontend-pencraft-Box-module__flex-gap-8--HFpIK facepile"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-align-center--rSd6h"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-align-center--rSd6h ontend-ponents-Facepile-module__fac--FVkdk ontend-ponents-Facepile-module__size-40--pH6IT"><div class="profile-hover-rd-target ontend-rear2-ProfileAndPublitnHoverCard-module__profileHoverCardTarget--Od_YL"><a href=" target="_blank" rel="noopener" class="pencraft ontend-pencraft-Box-module__flexAuto--CnX9I ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt"><picture><source type="image/webp" srcset=" /><img src=" siz="100vw" alt style="z-x: 1;" width="80" class="ontend-ponents-rponsive_img-module__img--Pgjj2 facepile-face ontend-ponents-Facepile-module__face--uAQkp ontend-ponents-Facepile-module__size-40--pH6IT ontend-ponents-Facepile-module__first--TZamh ontend-ponents-Facepile-module__last--DT3p3" /></picture></a></div></div></div></div></div><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-directn-lumn--Rq7pk"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-11--k1e8b ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-medium--x7khA ontend-pencraft-Text-module__font-meta--U_nxy ontend-pencraft-Text-module__lor-pub-primary-text--RzL7j ontend-pencraft-Text-module__transform-upperse--IDkUL ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__meta--jzHdd"><div class="profile-hover-rd-target ontend-rear2-ProfileAndPublitnHoverCard-module__profileHoverCardTarget--Od_YL"><a href=" class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__ratn-hover-unrle--BEYAn ontend-pencraft-Text-module__ret--dW0zZ">Michael A. Gayed, CFA</a></div></div><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-gap-4--zeW5_"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-11--k1e8b ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-medium--x7khA ontend-pencraft-Text-module__font-meta--U_nxy ontend-pencraft-Text-module__lor-pub-sendary-text--OzRTa ontend-pencraft-Text-module__transform-upperse--IDkUL ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__meta--jzHdd">Jul 18, 2023</div><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-11--k1e8b ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-medium--x7khA ontend-pencraft-Text-module__font-meta--U_nxy ontend-pencraft-Text-module__lor-pub-sendary-text--OzRTa ontend-pencraft-Text-module__transform-upperse--IDkUL ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__meta--jzHdd">∙ Paid</div></div></div></div></div><div class="pencraft ontend-pencraft-Box-module__flexGrow--mx4xz ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-jtify-space-between--NvIcg ontend-pencraft-Box-module__flex-align-center--rSd6h ontend-pencraft-Box-module__flex-gap-16--TpblU ontend-pencraft-Box-module__paddg-y-16--ohCEm ontend-pencraft-Box-module__borr-top-tail-themed--e17yZ ontend-pencraft-Box-module__borr-bottom-tail-themed--eVwFY post-ufi"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-gap-8--HFpIK"><div class="like-button-ntaer post-ufi-button style-button"><a role="button" class="post-ufi-button style-button has-label wh-borr"><svg role="img" style="height: 20px; width: 20px;" width="20" height="20" viewBox="0 0 24 24" fill="#000000" stroke-width="2" stroke="#000" xmlns=" class="in"><g><tle>

michael a gayed cfa

<p>Michael A. Gayed, CFA, is chief vtment strategist and -portfol manager at Pensn Partners, LLC

Contents:

MICHAEL GAYED

Michael A. Gayed is Portfol Manager at Toroso Invtments, an vtment management pany specializg ETF foced rearch, vtment strategi and * michael a gayed cfa *

Gayed is Portfol Manager at Toroso Invtments, an vtment management pany specializg ETF foced rearch, vtment strategi and servic signed for fancial advisors, RIAs, fay offic and vtment managers. Michael Gayed | Wealth Management. Michael Gayed.

Gayed, CFA, is chief vtment strategist and -portfol manager at Pensn Partners, LLC., an vtment advisor which manag a mutual fund and separate acunts acrdg to s ATAC (Accelerated Time and Capal) strategi foced on flatn rotatn. Prr to this role, Gayed served as a portfol manager for a large ternatnal vtment group, tradg long/short vtment ias an effort to pture excs returns.

From 2004 to 2008, Gayed was a strategist at AmeriCap Advisers LLC, a registered vtment advisory firm that managed equy portfols for large stutnal clients. Gayed, CFA's Articl | Seekg Alpha.

THE LEAD-LAG REPORTSUBSCRIBESIGN HOMENOTLEAD-LAG LIVEWEEKLY SIGNALSLEARS-LAGGARDSGLOBAL VIEWHIGH YIELD SPOTLIGHTMACRO OBSERVATNSCLOSG THOUGHTS FOR THE WEEKARCHIVELEARBOARDABOUT{"@NTEXT":","@TYPE":"WEBSE","NAME":"THE LEAD-LAG REPORT","PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","LOGO":{"@TYPE":"IMAGEOBJECT","URL":"},"SAMEAS":["]},"URL":","MAENTYOFPAGE":{"@TYPE":"WEBPAGE","URL":"},"SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","POTENTIALACTN":{"@TYPE":"SEARCHACTN","NAME":"SEARCH THE LEAD-LAG REPORT","TARGET":"SEARCH_TERM_STRG}","QUERY-PUT":"REQUIRED NAME=SEARCH_TERM_STRG"}}HIGHER VOLATILY IS COMGAND AI CAN'T STOP IT16 HR AGO • MICHAEL A. GAYED, CFA31SHARE THIS POSTHIGHER VOLATILY IS COPY LKFACEBOOKEMAILNOTOTHERNEWTOPCOMMUNYWHAT IF THE BANK OF JAPAN IS ABOUT TO SHOCK THE MARKET & SUDNLY DROP YIELD CURVE CONTROL? A MASSIVELY UNRAPPRECIATED RISKJUL 27 • MICHAEL A. GAYED, CFA30SHARE THIS POSTWHAT IF THE BANK OF JAPAN IS ABOUT TO SHOCK THE MARKET & SUDNLY DROP YIELD CURVE CONTROL? COPY LKFACEBOOKEMAILNOTOTHERAN ATTRACTIVE 12% YIELD MASKS A LOT OF ISSULOOK TO THE LEFT OF THE EQUAL SIGNJUL 27 • MICHAEL A. GAYED, CFA46SHARE THIS POSTAN ATTRACTIVE 12% YIELD MASKS A LOT OF COPY LKFACEBOOKEMAILNOTOTHERHERE COM THE BANK OF JAPAN SURPRISETHE MOST IMPORTANT CENTRAL BANK NOW ISN'T THE FEDJUL 26 • MICHAEL A. GAYED, CFA29SHARE THIS POSTHERE COM THE BANK OF JAPAN COPY LKFACEBOOKEMAILNOTOTHERCONSUMERS ARE ABOUT TO TAP OUTTECH ISN'T DEAD YET, BUT IT'S BUCKLGJUL 25 • MICHAEL A. GAYED, CFA45SHARE THIS POSTCONSUMERS ARE ABOUT TO TAP COPY LKFACEBOOKEMAILNOTOTHERPUTTG THE BULLS ON NOTICEA SIGNIFINT ROTATN JT HAPPENEDJUL 24 • MICHAEL A. GAYED, CFA31SHARE THIS POSTPUTTG THE BULLS ON COPY LKFACEBOOKEMAILNOTOTHERTHE POSSIBILY OF A WORLD WHOUT PRIVATE OWNERSHIP: A DISCSN WH CAROL ROTHLISTEN NOW (44 M) | PODST OF THE WEEKJUL 23 • MICHAEL A. GAYED, CFA AND CAROL ROTH61SHARE THIS POSTTHE POSSIBILY OF A WORLD WHOUT PRIVATE OWNERSHIP: A DISCSN WH CAROL COPY LKFACEBOOKEMAILNOTOTHER1THE PAST 3 DAYS MAY HAVE CHANGED EVERYTHGTHIS CAN NOT BE IGNOREDJUL 22 • MICHAEL A. GAYED, CFA42SHARE THIS POSTTHE PAST 3 DAYS MAY HAVE CHANGED COPY LKFACEBOOKEMAILNOTOTHERSEE ALLTHE LEAD-LAG REPORTDEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. SUBSCRIBETHE LEAD-LAG REPORTSUBSCRIBEABOUTARCHIVEREMENDATNSSEMAPSHARE THIS PUBLITNTHE LEAD-LAG COPY LKFACEBOOKEMAILNOTOTHERTHE LEAD-LAG REPORT

* michael a gayed cfa *

Gayed, CFA, Publisher of The Lead-Lag Report (@leadlagreport), each episo div ep to the mds of dtry experts to discs current market trends, vtment strategi, and the global enomic this excg seri, you'll have the rare opportuny to jo Michael A. Gayed as he nnects wh proment thought lears for ptivatg discsns real-time. Thank you Michael Gayed!

Gayed is a good terviewer and the guts are worth listeng to. Gayed, CFA is Portfol Manager at Toroso Invtments, an vtment management pany specializg ETF foced rearch, vtment strategi and servic signed for fancial advisors, RIAs, fay offic and vtment is the thor of five award-wng rearch papers on market anomali and vtg.

Gayed, CFA is Portfol Manager at Toroso Invtments, an vtment management pany specializg ETF foced rearch, vtment strategi and servic signed for fancial advisors, RIAs, fay offic and vtment & LotnNov 09, 2022, 11:30 AM – 1:00 PMBirmgham, 1901 6th Ave N Sue 3100, Birmgham, AL 35203, USAGutsAbout the EventMichael A. Gayed, CFA is Portfol Manager at Toroso Invtments, an vtment management pany specializg ETF foced rearch, vtment strategi and servic signed for fancial advisors, RIAs, fay offic and vtment managers.

THE LEAD-LAG REPORTSUBSCRIBESIGN {"@NTEXT":","@TYPE":"NEWSARTICLE","URL":","MAENTYOFPAGE":","HEADLE":"CAN OVERBOUGHT STAY OVERBOUGHT?","SCRIPTN":"WATCH THE DOLLAR","IMAGE":[{"@TYPE":"IMAGEOBJECT","URL":"}],"DATEPUBLISHED":"2023-07-17T14:15:41+00:00","DATEMODIFIED":"2023-07-17T14:15:41+00:00","ISACCSIBLEFORFREE":FALSE,"THOR":[{"@TYPE":"PERSON","NAME":"MICHAEL A. GAYED, CFA","URL":","SCRIPTN":"5X DOW & FOUNRS AWARD WNER. RISK-ON/OFF $RORO ETF, JUNK-ON/OFF $JOJO ETF, & $ATACX MUTUAL FUND PORTFOL MANAGER. PUBLISHER OF THE LEAD-LAG REPORT.","INTIFIER":"ER:17118252","SAMEAS":["],"IMAGE":{"@TYPE":"IMAGEOBJECT","NTENTURL":","THUMBNAILURL":"}}],"PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","TERACTNSTATISTIC":{"@TYPE":"INTERACTNCOUNTER","NAME":"SUBSCRIBERS","TERACTNTYPE":","ERINTERACTNCOUNT":100000},"INTIFIER":"PUB:1562645","LOGO":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"IMAGE":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"SAMEAS":["]}}SHARE THIS POSTCAN OVERBOUGHT STAY OVERBOUGHT?COPY LKFACEBOOKEMAILNOTOTHERWEEKLY SIGNALSCAN OVERBOUGHT STAY OVERBOUGHT?

100,000+ subscribers. Developed om award-wng market rearch, The Lead-Lag Report giv you powerful market sights to improve your long-term vtment strategy. Click to read The Lead-Lag Report, by Michael A. Gayed, CFA, a Substack publitn. * michael a gayed cfa *

THE LEAD-LAG REPORTSUBSCRIBESIGN {"@NTEXT":","@TYPE":"NEWSARTICLE","URL":","MAENTYOFPAGE":","HEADLE":"SOMETHG IMPORTANT IS HAPPENG","SCRIPTN":"HOW DO MELT-UPS END?","IMAGE":[{"@TYPE":"IMAGEOBJECT","URL":"}],"DATEPUBLISHED":"2023-07-15T15:07:46+00:00","DATEMODIFIED":"2023-07-15T15:07:46+00:00","ISACCSIBLEFORFREE":FALSE,"THOR":[{"@TYPE":"PERSON","NAME":"MICHAEL A. GAYED, CFA","URL":","SCRIPTN":"5X DOW & FOUNRS AWARD WNER. RISK-ON/OFF $RORO ETF, JUNK-ON/OFF $JOJO ETF, & $ATACX MUTUAL FUND PORTFOL MANAGER. PUBLISHER OF THE LEAD-LAG REPORT.","INTIFIER":"ER:17118252","SAMEAS":["],"IMAGE":{"@TYPE":"IMAGEOBJECT","NTENTURL":","THUMBNAILURL":"}}],"PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","TERACTNSTATISTIC":{"@TYPE":"INTERACTNCOUNTER","NAME":"SUBSCRIBERS","TERACTNTYPE":","ERINTERACTNCOUNT":100000},"INTIFIER":"PUB:1562645","LOGO":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"IMAGE":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"SAMEAS":["]}}SHARE THIS POSTSOMETHG IMPORTANT IS COPY LKFACEBOOKEMAILNOTOTHERCLOSG THOUGHTS FOR THE WEEKSOMETHG IMPORTANT IS HAPPENG

Wele to the Lead-Lag Live podst, where we brg you live unscripted nversatns wh thought lears the world of fance, enomics, and vtg. Hosted through Twter Spac by Michael A. Gayed, CFA, Publisher of The Lead-Lag Report (@leadlagreport), each episo div ep to the m… * michael a gayed cfa *

THE LEAD-LAG REPORTSUBSCRIBESIGN {"@NTEXT":","@TYPE":"NEWSARTICLE","URL":","MAENTYOFPAGE":","HEADLE":"THE SWEET SPOT","SCRIPTN":"UNTIL THE CRED EVENT","IMAGE":[{"@TYPE":"IMAGEOBJECT","URL":"}],"DATEPUBLISHED":"2023-07-19T17:09:15+00:00","DATEMODIFIED":"2023-07-19T17:09:15+00:00","ISACCSIBLEFORFREE":FALSE,"THOR":[{"@TYPE":"PERSON","NAME":"MICHAEL A. GAYED, CFA","URL":","SCRIPTN":"5X DOW & FOUNRS AWARD WNER. RISK-ON/OFF $RORO ETF, JUNK-ON/OFF $JOJO ETF, & $ATACX MUTUAL FUND PORTFOL MANAGER. PUBLISHER OF THE LEAD-LAG REPORT.","INTIFIER":"ER:17118252","SAMEAS":["],"IMAGE":{"@TYPE":"IMAGEOBJECT","NTENTURL":","THUMBNAILURL":"}}],"PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","TERACTNSTATISTIC":{"@TYPE":"INTERACTNCOUNTER","NAME":"SUBSCRIBERS","TERACTNTYPE":","ERINTERACTNCOUNT":100000},"INTIFIER":"PUB:1562645","LOGO":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"IMAGE":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"SAMEAS":["]}}SHARE THIS POSTTHE SWEET COPY LKFACEBOOKEMAILNOTOTHERGLOBAL VIEWTHE SWEET SPOT

Michael A. Gayed, CFA is Portfol Manager at Toroso Invtments, an vtment management pany specializg ETF foced rearch, vtment strategi and servic signed for fancial advisors, RIAs, fay offic and vtment managers. * michael a gayed cfa *

THE LEAD-LAG REPORTSUBSCRIBESIGN {"@NTEXT":","@TYPE":"NEWSARTICLE","URL":","MAENTYOFPAGE":","HEADLE":"A PRETTY GOOD JAPAN FUND","SCRIPTN":"FIGHTG A CHALLENGG BACKDROP","IMAGE":[{"@TYPE":"IMAGEOBJECT","URL":"}],"DATEPUBLISHED":"2023-07-20T13:46:17+00:00","DATEMODIFIED":"2023-07-20T13:46:17+00:00","ISACCSIBLEFORFREE":FALSE,"THOR":[{"@TYPE":"PERSON","NAME":"MICHAEL A. GAYED, CFA","URL":","SCRIPTN":"5X DOW & FOUNRS AWARD WNER. RISK-ON/OFF $RORO ETF, JUNK-ON/OFF $JOJO ETF, & $ATACX MUTUAL FUND PORTFOL MANAGER. PUBLISHER OF THE LEAD-LAG REPORT.","INTIFIER":"ER:17118252","SAMEAS":["],"IMAGE":{"@TYPE":"IMAGEOBJECT","NTENTURL":","THUMBNAILURL":"}}],"PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","TERACTNSTATISTIC":{"@TYPE":"INTERACTNCOUNTER","NAME":"SUBSCRIBERS","TERACTNTYPE":","ERINTERACTNCOUNT":100000},"INTIFIER":"PUB:1562645","LOGO":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"IMAGE":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"SAMEAS":["]}}SHARE THIS POSTA PRETTY GOOD JAPAN COPY LKFACEBOOKEMAILNOTOTHERHIGH YIELD SPOTLIGHTA PRETTY GOOD JAPAN FUND

SCHOLARSHIPSCHOLARSHIPHOMEABOUT USLEARSHIPPUTTG INVTORS FIRSTCANDIDATWHY CFA CHARTER?CAREER CENTERMEMBERSHIPNEWS & EVENTSANNUAL FOREST DNERUPG EVENTSPAST EVENTSREARCH CHALLENGEWIMCONTACTMORE...USE TAB TO NAVIGATE THROUGH THE MENU EMS.ALL POSTSUPG EVENTSPAST EVENTSSEARCHCFA SPEAKER SERI: MICHAEL A. GAYED, CFA

THE LEAD-LAG REPORTSUBSCRIBESIGN {"@NTEXT":","@TYPE":"NEWSARTICLE","URL":","MAENTYOFPAGE":","HEADLE":"MARKET BREADTH WINS","SCRIPTN":"BUT EXTREME RISK-ON HAS PEAKED","IMAGE":[{"@TYPE":"IMAGEOBJECT","URL":"}],"DATEPUBLISHED":"2023-07-18T14:15:14+00:00","DATEMODIFIED":"2023-07-18T14:15:14+00:00","ISACCSIBLEFORFREE":FALSE,"THOR":[{"@TYPE":"PERSON","NAME":"MICHAEL A. GAYED, CFA","URL":","SCRIPTN":"5X DOW & FOUNRS AWARD WNER. RISK-ON/OFF $RORO ETF, JUNK-ON/OFF $JOJO ETF, & $ATACX MUTUAL FUND PORTFOL MANAGER. PUBLISHER OF THE LEAD-LAG REPORT.","INTIFIER":"ER:17118252","SAMEAS":["],"IMAGE":{"@TYPE":"IMAGEOBJECT","NTENTURL":","THUMBNAILURL":"}}],"PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","TERACTNSTATISTIC":{"@TYPE":"INTERACTNCOUNTER","NAME":"SUBSCRIBERS","TERACTNTYPE":","ERINTERACTNCOUNT":100000},"INTIFIER":"PUB:1562645","LOGO":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"IMAGE":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"SAMEAS":["]}}SHARE THIS POSTMARKET BREADTH COPY LKFACEBOOKEMAILNOTOTHERLEARS-LAGGARDSMARKET BREADTH WINS

THE LEAD-LAG REPORTSUBSCRIBESIGN {"@NTEXT":","@TYPE":"NEWSARTICLE","URL":","MAENTYOFPAGE":","HEADLE":"TWO MAJOR CATALYSTS","SCRIPTN":"MOMENTUM BUILDS","IMAGE":[{"@TYPE":"IMAGEOBJECT","URL":"}],"DATEPUBLISHED":"2023-07-12T17:48:40+00:00","DATEMODIFIED":"2023-07-12T17:48:40+00:00","ISACCSIBLEFORFREE":FALSE,"THOR":[{"@TYPE":"PERSON","NAME":"MICHAEL A. GAYED, CFA","URL":","SCRIPTN":"5X DOW & FOUNRS AWARD WNER. RISK-ON/OFF $RORO ETF, JUNK-ON/OFF $JOJO ETF, & $ATACX MUTUAL FUND PORTFOL MANAGER. PUBLISHER OF THE LEAD-LAG REPORT.","INTIFIER":"ER:17118252","SAMEAS":["],"IMAGE":{"@TYPE":"IMAGEOBJECT","NTENTURL":","THUMBNAILURL":"}}],"PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","TERACTNSTATISTIC":{"@TYPE":"INTERACTNCOUNTER","NAME":"SUBSCRIBERS","TERACTNTYPE":","ERINTERACTNCOUNT":100000},"INTIFIER":"PUB:1562645","LOGO":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"IMAGE":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"SAMEAS":["]}}SHARE THIS POSTTWO MAJOR COPY LKFACEBOOKEMAILNOTOTHERGLOBAL VIEWTWO MAJOR CATALYSTS

SCHOLARSHIPSCHOLARSHIPHOMEABOUT USLEARSHIPPUTTG INVTORS FIRSTCANDIDATWHY CFA CHARTER?CAREER CENTERMEMBERSHIPNEWS & EVENTSANNUAL FOREST DNERUPG EVENTSPAST EVENTSREARCH CHALLENGEWIMCONTACTMORE...USE TAB TO NAVIGATE THROUGH THE MENU EMS.WED, NOV 09 | BIRMGHAMCFA SPEAKER SERI: MICHAEL A. GAYED

THE LEAD-LAG REPORTSUBSCRIBESIGN {"@NTEXT":","@TYPE":"NEWSARTICLE","URL":","MAENTYOFPAGE":","HEADLE":"CAN OVERBOUGHT STAY OVERBOUGHT?","SCRIPTN":"WATCH THE DOLLAR","IMAGE":[{"@TYPE":"IMAGEOBJECT","URL":"}],"DATEPUBLISHED":"2023-07-17T14:15:41+00:00","DATEMODIFIED":"2023-07-17T14:15:41+00:00","ISACCSIBLEFORFREE":FALSE,"THOR":[{"@TYPE":"PERSON","NAME":"MICHAEL A. GAYED, CFA","URL":","SCRIPTN":"5X DOW & FOUNRS AWARD WNER. RISK-ON/OFF $RORO ETF, JUNK-ON/OFF $JOJO ETF, & $ATACX MUTUAL FUND PORTFOL MANAGER. PUBLISHER OF THE LEAD-LAG REPORT.","INTIFIER":"ER:17118252","SAMEAS":["],"IMAGE":{"@TYPE":"IMAGEOBJECT","NTENTURL":","THUMBNAILURL":"}}],"PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","TERACTNSTATISTIC":{"@TYPE":"INTERACTNCOUNTER","NAME":"SUBSCRIBERS","TERACTNTYPE":","ERINTERACTNCOUNT":100000},"INTIFIER":"PUB:1562645","LOGO":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"IMAGE":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"SAMEAS":["]}}SHARE THIS POSTCAN OVERBOUGHT STAY OVERBOUGHT?COPY LKFACEBOOKEMAILNOTOTHERWEEKLY SIGNALSCAN OVERBOUGHT STAY OVERBOUGHT?

THE LEAD-LAG REPORTSUBSCRIBESIGN {"@NTEXT":","@TYPE":"NEWSARTICLE","URL":","MAENTYOFPAGE":","HEADLE":"THE SWEET SPOT","SCRIPTN":"UNTIL THE CRED EVENT","IMAGE":[{"@TYPE":"IMAGEOBJECT","URL":"}],"DATEPUBLISHED":"2023-07-19T17:09:15+00:00","DATEMODIFIED":"2023-07-19T17:09:15+00:00","ISACCSIBLEFORFREE":FALSE,"THOR":[{"@TYPE":"PERSON","NAME":"MICHAEL A. GAYED, CFA","URL":","SCRIPTN":"5X DOW & FOUNRS AWARD WNER. RISK-ON/OFF $RORO ETF, JUNK-ON/OFF $JOJO ETF, & $ATACX MUTUAL FUND PORTFOL MANAGER. PUBLISHER OF THE LEAD-LAG REPORT.","INTIFIER":"ER:17118252","SAMEAS":["],"IMAGE":{"@TYPE":"IMAGEOBJECT","NTENTURL":","THUMBNAILURL":"}}],"PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","TERACTNSTATISTIC":{"@TYPE":"INTERACTNCOUNTER","NAME":"SUBSCRIBERS","TERACTNTYPE":","ERINTERACTNCOUNT":100000},"INTIFIER":"PUB:1562645","LOGO":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"IMAGE":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"SAMEAS":["]}}SHARE THIS POSTTHE SWEET COPY LKFACEBOOKEMAILNOTOTHERGLOBAL VIEWTHE SWEET SPOT

THE LEAD-LAG REPORTSUBSCRIBESIGN {"@NTEXT":","@TYPE":"NEWSARTICLE","URL":","MAENTYOFPAGE":","HEADLE":"A PRETTY GOOD JAPAN FUND","SCRIPTN":"FIGHTG A CHALLENGG BACKDROP","IMAGE":[{"@TYPE":"IMAGEOBJECT","URL":"}],"DATEPUBLISHED":"2023-07-20T13:46:17+00:00","DATEMODIFIED":"2023-07-20T13:46:17+00:00","ISACCSIBLEFORFREE":FALSE,"THOR":[{"@TYPE":"PERSON","NAME":"MICHAEL A. GAYED, CFA","URL":","SCRIPTN":"5X DOW & FOUNRS AWARD WNER. RISK-ON/OFF $RORO ETF, JUNK-ON/OFF $JOJO ETF, & $ATACX MUTUAL FUND PORTFOL MANAGER. PUBLISHER OF THE LEAD-LAG REPORT.","INTIFIER":"ER:17118252","SAMEAS":["],"IMAGE":{"@TYPE":"IMAGEOBJECT","NTENTURL":","THUMBNAILURL":"}}],"PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","TERACTNSTATISTIC":{"@TYPE":"INTERACTNCOUNTER","NAME":"SUBSCRIBERS","TERACTNTYPE":","ERINTERACTNCOUNT":100000},"INTIFIER":"PUB:1562645","LOGO":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"IMAGE":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"SAMEAS":["]}}SHARE THIS POSTA PRETTY GOOD JAPAN COPY LKFACEBOOKEMAILNOTOTHERHIGH YIELD SPOTLIGHTA PRETTY GOOD JAPAN FUND

THE LEAD-LAG REPORTSUBSCRIBESIGN {"@NTEXT":","@TYPE":"NEWSARTICLE","URL":","MAENTYOFPAGE":","HEADLE":"SOMETHG IMPORTANT IS HAPPENG","SCRIPTN":"HOW DO MELT-UPS END?","IMAGE":[{"@TYPE":"IMAGEOBJECT","URL":"}],"DATEPUBLISHED":"2023-07-15T15:07:46+00:00","DATEMODIFIED":"2023-07-15T15:07:46+00:00","ISACCSIBLEFORFREE":FALSE,"THOR":[{"@TYPE":"PERSON","NAME":"MICHAEL A. GAYED, CFA","URL":","SCRIPTN":"5X DOW & FOUNRS AWARD WNER. RISK-ON/OFF $RORO ETF, JUNK-ON/OFF $JOJO ETF, & $ATACX MUTUAL FUND PORTFOL MANAGER. PUBLISHER OF THE LEAD-LAG REPORT.","INTIFIER":"ER:17118252","SAMEAS":["],"IMAGE":{"@TYPE":"IMAGEOBJECT","NTENTURL":","THUMBNAILURL":"}}],"PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","TERACTNSTATISTIC":{"@TYPE":"INTERACTNCOUNTER","NAME":"SUBSCRIBERS","TERACTNTYPE":","ERINTERACTNCOUNT":100000},"INTIFIER":"PUB:1562645","LOGO":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"IMAGE":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"SAMEAS":["]}}SHARE THIS POSTSOMETHG IMPORTANT IS COPY LKFACEBOOKEMAILNOTOTHERCLOSG THOUGHTS FOR THE WEEKSOMETHG IMPORTANT IS HAPPENG

THE LEAD-LAG REPORTSUBSCRIBESIGN {"@NTEXT":","@TYPE":"NEWSARTICLE","URL":","MAENTYOFPAGE":","HEADLE":"MARKET BREADTH WINS","SCRIPTN":"BUT EXTREME RISK-ON HAS PEAKED","IMAGE":[{"@TYPE":"IMAGEOBJECT","URL":"}],"DATEPUBLISHED":"2023-07-18T14:15:14+00:00","DATEMODIFIED":"2023-07-18T14:15:14+00:00","ISACCSIBLEFORFREE":FALSE,"THOR":[{"@TYPE":"PERSON","NAME":"MICHAEL A. GAYED, CFA","URL":","SCRIPTN":"5X DOW & FOUNRS AWARD WNER. RISK-ON/OFF $RORO ETF, JUNK-ON/OFF $JOJO ETF, & $ATACX MUTUAL FUND PORTFOL MANAGER. PUBLISHER OF THE LEAD-LAG REPORT.","INTIFIER":"ER:17118252","SAMEAS":["],"IMAGE":{"@TYPE":"IMAGEOBJECT","NTENTURL":","THUMBNAILURL":"}}],"PUBLISHER":{"@TYPE":"ORGANIZATN","NAME":"THE LEAD-LAG REPORT","URL":","SCRIPTN":"DEVELOPED OM AWARD-WNG MARKET REARCH, THE LEAD-LAG REPORT GIV YOU POWERFUL MARKET SIGHTS TO IMPROVE YOUR LONG-TERM VTMENT STRATEGY. ","TERACTNSTATISTIC":{"@TYPE":"INTERACTNCOUNTER","NAME":"SUBSCRIBERS","TERACTNTYPE":","ERINTERACTNCOUNT":100000},"INTIFIER":"PUB:1562645","LOGO":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"IMAGE":{"@TYPE":"IMAGEOBJECT","URL":","NTENTURL":","THUMBNAILURL":"},"SAMEAS":["]}}SHARE THIS POSTMARKET BREADTH COPY LKFACEBOOKEMAILNOTOTHERLEARS-LAGGARDSMARKET BREADTH WINS

*BEAR-MAGAZINE.COM* MICHAEL A GAYED CFA

</tle><path fill-le="evenodd" clip-le="evenodd" d="M12.1303 0.000379039C10.9833 -0.00959082 9.87819 0.431464 9.05309 1.22855L9.04556 1.23593L7.79145 2.48303C7.50587 2.767 7.50453 3.22877 7.78844 3.51441C8.07235 3.80004 8.53401 3.80139 8.81959 3.51741L10.0698 2.27423C10.6194 1.74503 11.3546 1.45229 12.1177 1.45892C12.8824 1.46556 13.6139 1.77236 14.1546 2.31323C14.6954 2.8541 15.0021 3.58577 15.0087 4.35065C15.0154 5.11353 14.7229 5.84857 14.1943 6.39829L12.0116 8.58145L12.0115 8.58155C11.7159 8.87739 11.36 9.10617 10.9682 9.25237C10.5764 9.39857 10.1577 9.45878 9.74051 9.42889C9.32337 9.39901 8.91752 9.27975 8.55051 9.07918C8.1835 8.87862 7.8639 8.60146 7.6134 8.26649C7.3722 7.94396 6.91526 7.87807 6.5928 8.11933C6.27034 8.36059 6.20447 8.81763 6.44567 9.14016C6.82142 9.64261 7.30082 10.0584 7.85134 10.3592C8.40186 10.66 9.01062 10.8389 9.63634 10.8838C10.2621 10.9286 10.8901 10.8383 11.4779 10.619C12.0656 10.3997 12.5994 10.0565 13.0429 9.61274L15.2302 7.42494L15.2391 7.4159C16.036 6.59062 16.4769 5.48529 16.467 4.33797C16.457 3.19066 15.9969 2.09316 15.1858 1.28185C14.3746 0.470545 13.2774 0.0103489 12.1303 0.000379039ZM7.29806 5.11625C6.67234 5.07142 6.0443 5.16173 5.45654 5.38103C4.86882 5.60031 4.33502 5.94355 3.89153 6.38727L1.70423 8.57506L1.69534 8.5841C0.898438 9.40939 0.457483 10.5147 0.467451 11.662C0.477418 12.8094 0.937512 13.9069 1.74864 14.7182C2.55976 15.5295 3.65701 15.9897 4.80407 15.9996C5.95113 16.0096 7.05622 15.5685 7.88132 14.7715L7.89035 14.7626L9.13717 13.5155C9.42192 13.2307 9.42192 12.7689 9.13717 12.4841C8.85243 12.1993 8.39077 12.1993 8.10602 12.4841L6.86392 13.7265C6.31432 14.2552 5.57945 14.5477 4.81675 14.5411C4.05204 14.5344 3.32054 14.2276 2.77979 13.6868C2.23904 13.1459 1.93231 12.4142 1.92566 11.6494C1.91904 10.8865 2.21146 10.1514 2.74011 9.60172L4.92287 7.41846C5.21854 7.12262 5.57437 6.89384 5.96621 6.74763C6.35805 6.60143 6.77674 6.54123 7.19389 6.57111C7.61104 6.601 8.01688 6.72026 8.38389 6.92082C8.75091 7.12138 9.0705 7.39855 9.32101 7.73352C9.56221 8.05605 10.0191 8.12194 10.3416 7.88068C10.6641 7.63942 10.7299 7.18238 10.4887 6.85985C10.113 6.3574 9.63359 5.94165 9.08307 5.64081C8.53255 5.33997 7.92378 5.16107 7.29806 5.11625Z"></path></g></svg></div><div translated class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-normal--s54Wf ontend-pencraft-Text-module__font-text--QmNJR ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__body4--Pl3xY">Copy lk</div></button><button tabInx="0" type="button" class="button share-actn"><div class="actn-in"><svg role="img" width="16" height="17" viewBox="0 0 16 17" fill="none" stroke-width="1.8" stroke="#000" xmlns="><g><tle></tle><path d="M10.6543 1.38723C10.3533 0.960814 9.95383 0.61341 9.48976 0.374567C9.02902 0.137956 8.51908 0.0130716 8.00115 0.0100098C7.86087 0.0101844 7.72354 0.0502687 7.60519 0.125581C7.48684 0.200893 7.39237 0.308324 7.3328 0.435326L5.00368 5.67077H3.029C2.72335 5.66964 2.42059 5.73003 2.13876 5.84833C1.85692 5.96663 1.60177 6.14043 1.38849 6.35938C1.16707 6.57502 0.991841 6.83346 0.873459 7.11897C0.755078 7.40447 0.696022 7.71108 0.699885 8.02014V13.691C0.699885 14.3087 0.945273 14.9012 1.38207 15.338C1.81886 15.7747 2.41128 16.0201 3.029 16.0201H13.348C13.8951 16.021 14.425 15.8283 14.8438 15.4762C15.2626 15.1241 15.5434 14.6352 15.6366 14.0961L16.6493 8.4252C16.7252 8.09192 16.7252 7.74582 16.6493 7.41254C16.566 7.08205 16.4104 6.7742 16.1936 6.51128C15.9746 6.25 15.7017 6.03926 15.3936 5.89355C15.0762 5.7467 14.7306 5.67068 14.3809 5.67077H10.5328L11.0391 4.37457C11.2397 3.88784 11.3162 3.35894 11.2619 2.83533C11.1853 2.30894 10.9763 1.81065 10.6543 1.38723ZM4.75052 14.5518H3.029C2.91049 14.5525 2.79303 14.5296 2.68349 14.4844C2.57394 14.4392 2.47452 14.3726 2.39102 14.2885C2.23609 14.1199 2.14945 13.8997 2.14799 13.6708V8.02014C2.14913 7.901 2.17389 7.78328 2.22082 7.67377C2.26775 7.56427 2.33592 7.46515 2.4214 7.38216C2.50369 7.29576 2.60267 7.22698 2.71233 7.17998C2.822 7.13298 2.94007 7.10874 3.05938 7.10874H4.7809L4.75052 14.5518ZM10.6746 7.05811H14.3809C14.5145 7.05821 14.6462 7.08942 14.7657 7.14925C14.8875 7.20532 14.9948 7.28845 15.0796 7.39229C15.1675 7.49052 15.2301 7.60871 15.2619 7.73659C15.2922 7.8665 15.2922 8.00162 15.2619 8.13153L14.2493 13.8024C14.2087 14.017 14.094 14.2106 13.9252 14.3492C13.7619 14.4812 13.558 14.5528 13.348 14.5518H6.19862V6.45052L8.43659 1.38723H8.52773C8.9042 1.50037 9.23304 1.73413 9.4636 2.05252C9.69416 2.37092 9.81365 2.75627 9.80368 3.14925C9.8181 3.39741 9.78015 3.64583 9.69229 3.87836L9.23659 5.04292C9.15397 5.273 9.12623 5.51921 9.15558 5.76191C9.1877 6.00427 9.27425 6.23623 9.40875 6.44039C9.5535 6.6376 9.74028 6.80017 9.95558 6.91634C10.1774 7.03206 10.4244 7.0912 10.6746 7.08849V7.05811Z"></path></g></svg></div><div translated class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-normal--s54Wf ontend-pencraft-Text-module__font-text--QmNJR ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__body4--Pl3xY">Facebook</div></button><button tabInx="0" type="button" class="button share-actn"><div class="actn-in"><svg role="img" width="21" height="16" viewBox="0 0 21 16" fill="none" stroke-width="1.8" stroke="#000" xmlns="><g><tle></tle><path fill-le="evenodd" clip-le="evenodd" d="M2.22192 2.20503C2.36754 1.77115 2.78269 1.45455 3.26639 1.45455H17.9332C18.4169 1.45455 18.8321 1.77118 18.9777 2.2051L10.5999 8.02107L2.22192 2.20503ZM2.16639 3.94198V13.4545C2.16639 14.0529 2.66307 14.5455 3.26639 14.5455H17.9332C18.5365 14.5455 19.0332 14.0529 19.0332 13.4545V3.94206L11.0204 9.50462C10.7679 9.67991 10.4318 9.67991 10.1793 9.50462L2.16639 3.94198ZM20.4999 2.55809V13.4545C20.4999 14.8562 19.3465 16 17.9332 16H3.26639C1.85304 16 0.699707 14.8562 0.699707 13.4545V2.54545C0.699707 1.14379 1.85304 0 3.26639 0H17.9332C19.3407 0 20.4904 1.13441 20.4998 2.52818C20.5 2.53816 20.5001 2.54813 20.4999 2.55809Z"></path></g></svg></div><div translated class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-normal--s54Wf ontend-pencraft-Text-module__font-text--QmNJR ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__body4--Pl3xY">Email</div></button><button tabInx="0" type="button" class="button share-actn"><div class="actn-in"><svg role="img" width="24" height="24" viewBox="0 0 24 24" fill="none" stroke-width="1.8" stroke="#000" xmlns="><g><tle></tle><path d="M6.785 1.92766C5.45134 1.57031 4.08049 2.36176 3.72314 3.69543L0.444815 15.9303C0.0874636 17.264 0.878901 18.6348 2.21255 18.9922L5.37495 19.8396V7.66664C5.37495 6.40099 6.40096 5.37498 7.66661 5.37498H19.4723C19.3299 5.30548 19.1788 5.24858 19.0201 5.20604L6.785 1.92766Z" stroke="none"></path><path fill-le="evenodd" clip-le="evenodd" d="M8.44161 7.4C7.86632 7.4 7.39995 7.86637 7.39995 8.44167V22.1081C7.39995 22.6834 7.86631 23.1498 8.4416 23.1498L22.1083 23.15C22.6836 23.15 23.1499 22.6836 23.1499 22.1083V8.44167C23.1499 7.86637 22.6836 7.4 22.1083 7.4H8.44161ZM10.3999 9.65C9.84766 9.65 9.39995 10.0977 9.39995 10.65C9.39995 11.2023 9.84766 11.65 10.3999 11.65H18.3999C18.9522 11.65 19.3999 11.2023 19.3999 10.65C19.3999 10.0977 18.9522 9.65 18.3999 9.65H10.3999ZM10.3999 14.15C9.84766 14.15 9.39995 14.5977 9.39995 15.15C9.39995 15.7023 9.84766 16.15 10.3999 16.15H15.3999C15.9522 16.15 16.3999 15.7023 16.3999 15.15C16.3999 14.5977 15.9522 14.15 15.3999 14.15H10.3999Z" stroke="none"></path></g></svg></div><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-normal--s54Wf ontend-pencraft-Text-module__font-text--QmNJR ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__body4--Pl3xY">Not</div></button><button tabInx="0" id="trigger10679" aria-expand="false" aria-haspopup="dialog" aria-ntrols="dialog10680" ariaLabel="View more" type="button" class="button share-actn"><div class="actn-in"><svg role="img" width="100" height="100" viewBox="0 0 100 100" fill="none" stroke-width="1.8" stroke="#000" xmlns="><g><tle></tle><circle cx="23" cy="50" r="9"></circle><circle cx="50" cy="50" r="9"></circle><circle cx="77" cy="50" r="9"></circle></g></svg></div><div translated class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-normal--s54Wf ontend-pencraft-Text-module__font-text--QmNJR ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__body4--Pl3xY">Other</div></button></div></div></div></div></div></div></div><div class="post-hear"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt post-label"><a href=" class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-14--Ume6q ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-medium--x7khA ontend-pencraft-Text-module__font-meta--U_nxy ontend-pencraft-Text-module__lor-sendary--WRADg ontend-pencraft-Text-module__transform-upperse--IDkUL ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__meta--jzHdd">High Yield Spotlight</a></div><h1 class="post-tle unpublished">A Pretty Good Japan Fund</h1><h3 class="subtle">Fightg A Challengg Backdrop</h3><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-directn-lumn--Rq7pk ontend-pencraft-Box-module__paddg-bottom-16--KVxKv"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-directn-lumn--Rq7pk ontend-pencraft-Box-module__paddg-y-16--ohCEm"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-jtify-start--_8fEd ontend-pencraft-Box-module__flex-align-center--rSd6h ontend-pencraft-Box-module__flex-gap-12--rODKq"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt"><div class="pencraft ontend-pencraft-Box-module__flexGrow--mx4xz ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-align-center--rSd6h ontend-pencraft-Box-module__flex-gap-8--HFpIK facepile"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-align-center--rSd6h"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-align-center--rSd6h ontend-ponents-Facepile-module__fac--FVkdk ontend-ponents-Facepile-module__size-40--pH6IT"><div class="profile-hover-rd-target ontend-rear2-ProfileAndPublitnHoverCard-module__profileHoverCardTarget--Od_YL"><a href=" target="_blank" rel="noopener" class="pencraft ontend-pencraft-Box-module__flexAuto--CnX9I ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt"><picture><source type="image/webp" srcset=" /><img src=" siz="100vw" alt style="z-x: 1;" width="80" class="ontend-ponents-rponsive_img-module__img--Pgjj2 facepile-face ontend-ponents-Facepile-module__face--uAQkp ontend-ponents-Facepile-module__size-40--pH6IT ontend-ponents-Facepile-module__first--TZamh ontend-ponents-Facepile-module__last--DT3p3" /></picture></a></div></div></div></div></div><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-directn-lumn--Rq7pk"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-11--k1e8b ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-medium--x7khA ontend-pencraft-Text-module__font-meta--U_nxy ontend-pencraft-Text-module__lor-pub-primary-text--RzL7j ontend-pencraft-Text-module__transform-upperse--IDkUL ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__meta--jzHdd"><div class="profile-hover-rd-target ontend-rear2-ProfileAndPublitnHoverCard-module__profileHoverCardTarget--Od_YL"><a href=" class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__ratn-hover-unrle--BEYAn ontend-pencraft-Text-module__ret--dW0zZ">Michael A. Gayed, CFA</a></div></div><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-gap-4--zeW5_"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-11--k1e8b ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-medium--x7khA ontend-pencraft-Text-module__font-meta--U_nxy ontend-pencraft-Text-module__lor-pub-sendary-text--OzRTa ontend-pencraft-Text-module__transform-upperse--IDkUL ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__meta--jzHdd">Jul 20, 2023</div><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Text-module__size-11--k1e8b ontend-pencraft-Text-module__le-height-20--p0dP8 ontend-pencraft-Text-module__weight-medium--x7khA ontend-pencraft-Text-module__font-meta--U_nxy ontend-pencraft-Text-module__lor-pub-sendary-text--OzRTa ontend-pencraft-Text-module__transform-upperse--IDkUL ontend-pencraft-Text-module__ret--dW0zZ ontend-pencraft-Text-module__meta--jzHdd">∙ Paid</div></div></div></div></div><div class="pencraft ontend-pencraft-Box-module__flexGrow--mx4xz ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-jtify-space-between--NvIcg ontend-pencraft-Box-module__flex-align-center--rSd6h ontend-pencraft-Box-module__flex-gap-16--TpblU ontend-pencraft-Box-module__paddg-y-16--ohCEm ontend-pencraft-Box-module__borr-top-tail-themed--e17yZ ontend-pencraft-Box-module__borr-bottom-tail-themed--eVwFY post-ufi"><div class="pencraft ontend-pencraft-Box-module__ret--VfQY8 ontend-pencraft-Box-module__display-flex--ZqeZt ontend-pencraft-Box-module__flex-gap-8--HFpIK"><div class="like-button-ntaer post-ufi-button style-button"><a role="button" class="post-ufi-button style-button has-label wh-borr"><svg role="img" style="height: 20px; width: 20px;" width="20" height="20" viewBox="0 0 24 24" fill="#000000" stroke-width="2" stroke="#000" xmlns=" class="in"><g><tle> .

TOP