Also, a trend of call buying has been prevalent in XLF for several weeks. This is an indicator that perhaps the rally in financials will continue in the months to come.

Elsewhere, we had spoken about the emerging markets a few weeks back and the lagging performance year to date in comparison to the U.S. equity markets (EEM down 18.44% with SPY down 1.41%).

EEM saw nearly $1 billion in new assets hit the fund this past week, so clearly there is a view that the space may rebound going into year’s end and potentially narrow the performance gap in between the emerging markets and the U.S. domestic equity market.

The S&P 500 ETF has also cleared its 200-day exponential moving average.

SPDR S&P 500

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