Julius starts this episode of Sector Spotlight by answering two questions from the mailbag. He then moves on to the current rotation of asset classes and observes that a more pronounced pause in the turnaround for commodities seems imminent. Meanwhile, signals that the rotation from stocks to bonds are getting more and more pronounced. Current sector rotation is next and the big picture here remains intact. However, it now looks like the defensive sectors, which had held up pretty well so far price-wise, are now also breaking important support levels, which opens up more downside potential for these sectors as well. All in all, the situation for SPY remains tricky.