Trend Reversal In Consumer Staples

$XLP $SPHB

XLP 0.00%↑ catching a bid this morning. There’s been quite a bit of put activity since September, and this could be nothing more than an unwind of that. However, two of the top 3 index components are at 52 week highs, and PG 0.00%↑ is pretty close itself

This price action merits watching as it’s occurring with the S&P High Beta Index also at 52 week highs, with negative RSI divergence.