Rotation

The 11 SPDR U.S. sector ETFs ranked best-to-worst for the selected period.

How to read The leadership map — which sectors are driving the tape and which are bleaking.

The JdK Relative Rotation Graph — sectors on RS-Ratio (relative-strength trend) vs RS-Momentum.

How Sectors rotate clockwise: Leading → Weakening → Lagging → Improving; the trail shows the recent path.Source Yahoo Finance

How to read Top-right (Leading) with positive momentum = strongest; bottom-left = weakest. Watch the direction of the trail.

A composite sector ranking versus the S&P 500.

Formula 1M return (30%) + 3M return (30%) + relative strength vs SPY (40%)Source Yahoo Finance

How to read Positive = outperforming with momentum; the scorecard collapses several lenses into one rank.

Cyclical vs defensive sector leadership — a cycle-positioning read.

How Basket return spread.Formula mean 21d return {XLY,XLF,XLI,XLB,XLE,XLRE} − {XLP,XLV,XLU}Source SPDR sector ETFs

How to read The line is cyclicals' return minus defensives' over the trailing month, so zero is the pivot. Above zero the economically-sensitive sectors (discretionary, financials, industrials, energy…) lead — the market is pricing growth, a risk-on early-to-mid-cycle posture. Below zero defensives (staples, healthcare, utilities) lead — a cautious, late-cycle/risk-off tape. The turn through zero is the rotation signal; a roll-over from positive is the market quietly getting defensive.

A descriptive cycle map; net-of-cost rotation alpha is academically weak.