The players continue adjusting portfolios. The theme remains trading out of value into growth. The action confirms the idea that this isn’t a good place to add a lot of size. You don’t want to be shaken out if SPY goes down to 395. That is 15 points below where we are now
XHB looks great with two of the hot industries being Residential Construction and Home Improvement Retail. XLY, in general, looks pretty good. It was a bad sign when LABU didn’t even go up CO, at least judging by what it is doing OC.