Fresno

Cycle Summary

Fresno sits in the Recession phase, roughly between 3:00 and 5:00 on the cycle clock. This part of the cycle is typically associated with Fear. That supports a Cautious investment posture: raise the bar for new investment and prioritize downside protection. The fundamental turn signal is steady, indicating that the model does not currently detect a meaningful change in direction, while credit conditions remain open and are not materially constraining market activity.