Here is a brief review of period-over-period change in short interest in the June 1-15 period in nine S&P 500 sectors.

Utilities, healthcare, small cap stocks, technology, and financials are among the best.

Apple weighs an incredible 15.5% of the SPDR technology sector, which covers some 73 companies.

Bulls showed renewed backbone last week and drew a line in the sand for the bears, buying with gusto into weakness as I suggested they would.

Measured by one-total performance, the Health Care Select Sector SPDR (XLV) is up nearly 24% through yesterday’s close (Oct. 23).

In these seven historical cases, the average correction in the S&P 500 was 19.5%. Can it happen again?