Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Always interesting to see where the money is rotating over the intermediate term; while financials have been an obvious inflow area and materials have benefited from the upteempth “China is rebounding” rally (exact same situation a year ago at this time) – it has been interesting to see the underperformance in tech. And not just Apple. While we have ironically seen an outperformance in some of the old dames of tech i.e. Hewlett Packard, Dell, Western Digital, Cisco, et al – much of the new tech has not done that much during this rally. Which is interesting as it is usually a go to sector during “risk on”. Energy has picked up here in the last week but generally has been a disappointment the past year as oil prices remain range bound. Utilities are doing what is expected to happen during a risk on phase and healthcare has been a mixed bag.
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