Laying the Foundation for A Secular Uptrend 🌤️ The Morning Print

Good morning! 

Engineering & Construction stocks look ready to complete a massive multi-decade base relative to the broader market.

Here's the setup.

Engineering & construction companies sit at the core of economic development.

They're responsible for building and maintaining the infrastructure that supports a society. 

On a relative basis versus the S&P 500, the group has been carving out a base that stretches all the way back to 2006.

If this base resolves higher, it would signal the start of a new secular uptrend for engineering & construction stocks relative to the broader market.

That thesis aligns with the ongoing global push to modernize and expand critical infrastructure, both in the U.S. and abroad.