The one sector that's held up above all others is utilities (XLU) and those readers who have continually wondered why XLU is the default outlier in the M3 index models may now see the attraction of that choice.
Our decision to focus on the possibilities for TLT last week turned out to be precocious and if the slide continues there's still room to run.
The VIX is at long term overhead resistance so the odds are favoring the bulls although how long such a reprieve might last is again anybody's guess.
Earnings season has begun and reports and guidance are likely to be the market drivers for the next month.
