Sector rotation is an important part of my studies and October clearly points out to a broken market structure. Consumer staples
sector surperformance compare to the index ( SP500
) does not bold well for the market in general. Not only this sector (along with utilities) did beat the SP500
in October, it actually came out with a positive return. That could means investors are turning to defensive and rate sensitive sector to protect against a downturn in the market.