2015 was a very difficult year. We witnessed our first serious selling since 2011. It’s unusual to trade in a bull market for four years with little interruption, yet that’s exactly what we did. Despite not breaking down, the trading environment was quite challenging in 2015. Sure, consumer stocks and technology performed better than average, but energy and material shares were tossed aside much of the year. And if we dig a little deeper, we’ll find that not even consumer stocks were broad winners. For example, there are 23 industry groups within consumer discretionary.