Materials moving up 5 spots to the 2nd place. Financials dropping 4 to the 7th spot.

Market: XLK (Technology ETF)

Reason for observation: Daily bull flag setup

Short-term bias: Bullish

Long-term bias: Bullish

Technology always seems setup for U.S sector leadership.

Market: XLU (Utilities ETF)

Reason for observation: Weekly bear flag trigger

Short-term bias: Bearish

Long-term bias: Bearish

Little game playing in utes as of late. False move to the upside followed by a quick sell off.

Out-performance of tech and energy versus the under-performance of utes and staples.

Consumer discretionary/Consumer staples ratio near highs. Risk on is still in play.