Key Takeaway: New highs being seen in areas where most investors have little exposure. Liquidity pressures build as corporate bond yields rise. Indexes consolidating after recent highs lacked broad support.
Energy remains at the top of the relative strength rankings, followed now by Financials. Materials continued to climb, rising to the number four spot this week.
Defensive sectors saw their recent relative strength moderate last week. Consumer Staples dropped one spot, Utilities were down two spots and Real Estate fell by three.
Our industry group heat-map shows this is a sector/group-sensitive rather than size-sensitive market right now. Growth sectors are being dragged down regardless of size.
