Isn't that the same thing though ? Macro economic conditions don't necessarily affect the price same every time beacuse the macro economy and markets are diffrent. A asset may have increasing demand despite the bad economic conditions. Because it has something that people needs. No?

That’s what defensive staples assets are in an investors portfolio such as health care and utilities , eg people will always need to wash there hair as appose to Louis Vuitton hand bags . And that’s where a professional investor looks at turning points in the economy and decides which he sectors he needs to deploy his capital to right now tech is getting an erection watch it rise like you would your own in the morning !