NEW YORK ( TheStreet) -- Defensive companies led U.S. indexes higher on Monday as markets pushed to intraday record highs.As I wrote yesterday, the push higher in equity indexes on Friday came with surprising strength. Friday saw a lot of oscillation, and the final hour brought a momentum move to the upside. Keeping the trend on Monday, equities spiked to highs on the open, signaling a bullish follow-through. The only issue was that funds rotated away from technology stocks and toward consumer staples, a sign of anxiety. XLP) over SPDR S&P 500 ( SPY). The chart represents relative strength by measuring the price action of one sector versus the index as a whole. A move to the upside represents relative leadership and a downward move signals the sector is a laggard. The price action shows that the pair has broken a strong resistance level at multi-month bottoms, and has the potential to continue to push toward yearly highs as the sector reverses relative trend. TSLA), investor sentiment may be seized by the bears, which could push prices back into their channel range on the daily charts and prompt a correction lower.