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.
Comment: Staples continue to outperform even in the latest small rally. ALl point to hard time for the SP500 for weeks to come. Stay long Staples / utilities VS SP500 / TEC
Comment: Outperformance of staples continue as general market getting hamered. No sign of turn around. Stay long Utilities and staples vs Markets
Comment: Not yet time to turn thing around ... Staples and utilities (bond proxy) still and will stay stronger
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