Sector Investing

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Market down today but both the banking sector and semiconductor sectors are showing relative strength. It does not look like the bulls want to give up control of the market so far today to me.

In addition the VIX is falling and the TRIN number is surprisingly low so far today. The initial put to call ratio number is 0.60 so that's close to being too bullish:

http://www.cboe.com/MktData/default.asp

We may be close to a market top as Fred Ruffy suggested based on the put to call numbers but I have had market top numbers showing up in numerous sentiment indicators for months.

Yesterday the banks were weak while the SOX stormed back higher. Today both important sectors are higher in the face of an early day market decline.

Who will win the battle today?

Tune in later, same sector channel, same sector thread...

<gg>RtS