Percentage above the 65-day SMA for each ETF's price action .. as of the March 15, 2013 close: ** leaders are marked in bold, based on the % distance above the 65-day simple moving average * 65 trading days = 3 months of price action Major Index DIA - 6.0% SPY -5.1% XLI - 5.8% IYT - 9.7% Risk-on IBB -7.2% - * the IBB to SPY ratio's pattern structure since July, 2012 is notable (see chart shown below) IWM - 6.9% IWN - 6.7% IYR - 3.4% MDY - 6.1% XLV - 5.9% International EEM - -2.4% EFA - 3.3% FXI - -6.1% VEU - 1.7% VGK - 2.3% $DAX - 4.1% $FTSE - 4.4% $STOXX600 - 3.6% Consumer XLY - 6.0% XRT -7.2% Technology QQQ - 2.6% SMH - 3.7% XLK - 2.7% Energy / Materials KOL OIH - 5.4% USO XLB - 3.7% XLE - 5.6% Home Construction / building ITB - 6.6% XHB - 6.2% Insurance / Financial KIE - 9.4% KRE - 7.6% XLF - 7.1% stockcharts.com/c-sc/sc?s=IBB&p=D&st=2010-08-06&en=(today)&i=p79049877070&a=296218075&r=1363550253765