Strength in the energy sector is becoming obvious. On Wednesday we noted 15 ETFs hit all-time highs and eight, including one leveraged product and one MLP fund, were energy funds. On Thursday, 17 ETFs are have reached all-time highs, as of this writing, and 12 are energy funds. [An Overlooked, but Soaring Energy ETF]

“It looks like this rotation is here to stay. This is very normal and healthy late cycle behavior. Technology and Financials are early cycle sectors and they continue to underperform the market. It’s Energy that’s been getting the flow these days. I think we see more of this relative strength going forward,” add Parets.

Energy Select Sector SPDR

ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of Apple and Google.