Top Down Market Overview
Participation in this bull market is narrowing from a top-down sectoral perspective from the POV in both equal-weighted and cap-weighted indices. At segment level, they are mainly led by $iShares S&P 500 Growth ETF(IVW)$ . The combination of megacap, growth tech are the play, followed by utilities defensive.
In my view, some of the more attractive setups at this stage are inverse longs on the weakest one-month RS sectors that are starting to form bases in their inverse charts. Even $ProShares Ultra VIX Short-Term Futures ETF(UVXY)$ looks attractive in RRR perspective to me.
$Direxion Daily Financial Bear 3x Shares(FAZ)$ (Financials 3x Bear, ADR 3.1%)
$Direxion Daily Real Estate Bear 3X Shares(DRV)$ (Real Estate 3x Bear, ADR 2.8%)
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