"Process Of Broadening Market Leadership Remains Intact": Top Goldman Trader

A month ago Goldman Sachs traders wrote about the demand they were seeing in cyclicals.

One of the key developments that has continued to build in recent weeks has been the steady re-acceleration in economically sensitive areas of the market. Transports, in particular, are pressing the upper end of a multi-year range and are now approaching another potential breakout.

Historically, as top Goldman trader Lee Coppersmith details below,