the menstruum lately highlighted equally i of changing intermarket dynamics), these ratios accelerated significantly equally the stock marketplace sold off. The XLB:XLF ratio topped out inwards mid-March (when the stock marketplace made its cost lows), pulled dorsum sharply, together with has since been clawing its means dorsum toward its highs equally stocks convey fallen back. The XLP:XLY ratio topped out inwards early on Jan (when the position out of stocks making novel 52-week lows maxxed out), dropped dorsum sharply, together with has bounced dorsum inwards a choppy mode since then.
Both of these ratios capture something of the psychology of the electrical flow stock market. H5N1 motion to novel highs would advise that the psychological drivers of the recent behaviour marketplace are intact. H5N1 failure to advance to novel highs, fifty-fifty equally the position out of stocks registering fresh 52-week lows is dwindling, would convey me questioning the bear's longevity.
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