April 1st 2013: Boring is the new high-beta???

I'm sure that I'm not the only one that's noticed that boring stuff is on a tear in the market.  Staples, Health-Care, Utilities, Low-Vol.......they're all red hot.  These are the sectors that are driving the $SPX higher - not momentum, not growth - boring is the new high beta.

Generally, at the start of rallies, we see things like small caps, the nasdaq, recent IPOs, etc. leading.  The fact that we're seeing boring stuff leading means that we're at the tail end of this leg higher.  To be clear, I'm not calling a top.  I plan on enjoying the ride while it lasts and focusing on the strongest sectors in the market place.

I could put up ratio charts of the SPHB:SPLV or XLP:SPY, but I think this one says it all.  Almost every week, the XLP is higher regardless of the noise out of Europe or political hand-wringing in the US or real estate bubbles in China.

Here's the chart:

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http://stockcharts.com/public/1109955