- NO sectors inside the lagging quadrant and only one in leading
- Sector rotation suggests market in transition
- Financials continue to loose ground vs Healthcare
- Technology picking up against Materials
- Sector rotation from Energy to Utilities starting to shape up
A first look at the Relative Rotation Graph above triggers two interesting observations.
First of all, there are NO sectors inside the lagging quadrant... not even one! And there is only one (materials) inside the leading quadrant.
Secondly, the tails of the sectors in this universe (S&P 500 index) are predominantly showing vertical (momentum driven) movement.