Materials, Miners, Oil: The Plot Thickens

We are seeing shades of an often forgotten-about aspect of 2008: The first two quarters of that year were characterized by powerful rotations into the industrial/materials/energy/mining complex. Of course, the resilience in equities as a whole (and a lack of a Bear Stearns) contrasts to 2016, thus far. 

But regarding the bullish action in commodities and the ancillary sectors (chemicals, tankers, ag plays, etc..) the rotations are potent and clearly catching shorts out of position, threatening the take the stubborn ones out in body bags given the meaningful breakout in silver and energy stocks, for example. 

More after the bell, and after INTC earnings, which should give insight into the SMH weakness today.