Earlier we mentioned how yesterday the cyclicals were lower, while the staples were higher, signalling a defensive move underneath the green day in stocks.
This ratio was spotlighted recently by Waverly Advisors as a key chart to watch, and we wanted to make an update of it, because it’s clear that it’s rolling over. Specifically, the chart is the Consumer Cyclicals SPDR vs. Consumer Staples SPDR. It actually peaked about a week ago.
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