Of course we are on the cusp of starting the fourth quarter of a very strange, and will undoubtedly be a memorable year. Looking below at the major 11 S&P sectors and how they have fared over the last 3 months, one ponders if institutional investors will do some “window dressing”, showing investors they were in the right stocks, and buy the strongest names in the most powerful groups. Here we see the consumer discretionary space, edging out the resurgent industrial and material spaces. Interesting to see how technology has “lagged”, as it was just fourth best with a still very respectable 13% advance (YTD the XLK still holds a probable insurmountable 10 point lead against the XLY). NKE and TGT have obviously helped discretionary with recent well received earnings reactions. Homebuilders have helped as well with the XHB just 3% off most recent 52 week highs.