Large cap defense move rotation from high growth small cap (IWM) may have played itself out, with SPY loosing momentum. The pros keep thinking the IWM exodus from overvalued growth, no sales stocks is over, no way. Greed still has plenty of money flow into these high growth with no fundamental, pure speculation, new IPO, BECAUSE WHERE ELSE YOU GONNA GET YIELD? Pros waiting for IWM to catch up to SPY to confirm secular bull market and its off to yet again new highs. Really? Do players make the markets? Does the Fed control everything perfectly? Currency strengths are the tell all. But this chart is very clear to me. Its amazing to me that wars and rumors of wars are not really effecting the markets that much. Why, because pros are so desperate for yield, so laser focused, finger ready at the click button, they will chase it daily, and do, until the music stops. Put ear plugs in your ears, and what does the data here say? To me, IMHO, we are going to the red circle, and the real question is where do we go from there. Careful trading all. :)