That extreme optimism in $XLP faded fast.
Oct. 19: $XLP sentiment dropped from 95.41 to 68.30 in just one trading session.
Meanwhile, $XLY sentiment reached 83.25, now in extreme optimism.
Consumer staples sentiment is near euphoric. Nasdaq-100 sentiment is near the floor.
Oct. 16: $XLP sentiment reached 95.41, while $QQQ sentiment plunged to just 8.98.
A sharp divide between defensive staples and tech-heavy growth.