Andrei,

The only thing I was noting was that the average returns for the present relative strength between sectors is still (at least late stage) bullish.

Right now the average returns would take us to 1439.01 on 6/16. Will we actually hit that?

I doubt it, because this was an artificial bull market propped up by Fed steroids. I'm tempted to call it the "bulloney market".

My favorite short is XLP and my favorite long is XLU. I see that XLP is crushing XLU right now...

Averages are only averages.

My other models are bearish. My yield ratio model is SERIOUSLY bearish. But it's ALSO skewed by the Fed action.

In other words, I don't think ANY average models apply to the present state of the market.

Tim