Today's surge overrules yesterday's early doom scenario and utilities and health care (XLU, XLV) are the current leaders both in the markets and in our T 6 bullish model. Volume was actually quite low yesterday and that theme continues today as the SPY approaches an all time high.
The last 2 weeks have been a market of selective sector gains with tech and financials (QQQ & XLF) lagging in returns.
If the bull market is really going to take off that lag needs to become a lead, coupled with a continued low VIX ( less than 13). Just something to keep an eye on. The 11 component T2 default model, which includes a wider spectrum of sectors and volatility may also be helpful in tracking the QQQ&XLF momentum... which we will examine tomorrow.