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Thematic update April 2022

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Blockchain, Mobile Payments, Cloud, Big Data, Scarce Resources, Cannabis and Travel all rallied more than 15% off the March 8 low. Did March start a trend reversal or was it an oversold rally? We think there could be more pain near-term but are more optimistic for late 2H 2022. The best year-to-date trends can be seen in Uranium, Scarce Resources, Environmental Services, Agricultural, and Infrastructure.

Ned Davis Research | Thematic | Focus | Monthly

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