Morgan Stanley Cyclical Index: Ratio to S&P Approaches 13-Year High

Eddy Elfenbein submits: I know I've become a bore on this topic, but I think it's big news.

The Morgan Stanley Cyclical Index [^CYC] is still outperforming the overall stock market.

If yesterday's activity holds up, then the CYC-to-S&P 500 ratio will surpass the peak from last May, and touch the highest point in 13 years.

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