The technology ETF continues to trade to new highs on strong technical momentum, while utilities provide the protection of dividends -- this defines a barbell strategy.
The technology ETF continues to lead the 11 S&P 500 sector ETFs, thanks to continuing all-time intraday highs for its largest component, Apple.
Technology is the only one of 11 S&P 500 sector ETFs to show consistent leadership, thanks to Apple, Microsoft, Facebook and Alphabet.
The dynamics among the 11 S&P 500 sector ETFs make investment strategies difficult to judge. You can't be bullish with energy negative, but bulls control 7 of the 11 sectors.