Healthcare moving up to the top spots is supported by the chart pattern discussed below. Rankings are pretty much in-line with expectations.


Market: XLK (Technology ETF)

Reason for observation: Return to previous pivot high

Short-term bias: Bullish

Long-term bias: Bullish

Money flow quickly coming back into tech as we have anticipated.


Market: XLV (Healthcare ETF)

Reason for observation: New highs on the daily

Short-term bias: Bullish

Long-term bias: Bullish

Healthcare as a sector has been extremely quiet for the past few months. Maybe this recent strength is enough to sustain future bullish price action.


Healthcare and utes are two sectors that had pretty extreme under-performance over the past few months. But recently, money flow back into these sectors is obvious based on a chart such as this. Look for this to continue in the short-term.


Should the general market rally we should likely see new highs made in the discretionary/staples ratio.