The XJO is trading over 5800 points, the highest since May 2008 but not all ships are rising with the tide.
This chart shows the performance of the individual sectors since the August 2011 lows, the real inflection point of prices.
What’s to notice about this graphic is the double bottom in the Materials and Energy sectors.
If the Telecoms and Financials simply consolidated and the Resources and Energy came back to test the highs of the range, this
would be very supportive of the markets in general.