It is quite unusual when a major S&P sector is consolidating (or not trending strongly) and yet has stocks within it that are moving up nicely. It is worth a look whether one is a counter-trend/value buyer or a momentum player. I begin by using the Chande Trend Meter (CTM) to rank the major sectors within the S&P 500 itself (see Chart 1) and comparing their performance to other key indexes. The CTM for the Dow Industrials, SPX and XLK, the Technology Select sector SPDR, are above 90, which means they are trending strongly. Three other sectors are between 80 and 90 on the CTM, which means the market breadth is quite broad. Bringing up the rear of this train is the XLP, the Consumer Staples Sector SPDR ETF. The XLP is generally viewed as a defensive play, and as the market trends strongly, the XLP is out of favor at the moment, which is attractive to value players.