When the index rises but fewer stocks join
A practical way to read advance–decline divergence before you treat a headline rally as permission to add risk in the same places.
Field Notes
Notes on sector leadership, participation, and the practical questions that come up before a reweight.
Short articles rooted in the craft of reading sector rotation and market breadth — written for people who already sit with allocation decisions.
Building a sector universe before you ask for a rotation map
Rotation analysis is only as clear as the taxonomy you hand over — SET industry groups, GICS, or a custom list each change the story.
Relative strength is a calendar decision as much as a chart
Lookback windows change which sectors look like leaders — align the window with how often your committee actually reweights.
Preparing holdings for a portfolio sector review
An anonymised weight table with stable sector tags is enough — perfection is not required, but missing sleeves waste the overlay.