Market Cycles

Trends or patterns that arise in various types markets, indices, and economic and business environments. Some equities or asset classes do better than others during a cycle because their business strategies are compatible with favorable growth circumstances. Market cycles, which show a fund's performance in both up and down markets, are the interval between two recent highs or lows of a common benchmark, such as the S&P 500, the Nasdaq 100, the Dow Jones Industrial and the Russell 2000.