that's according to chris for ron, but technical analyst at strategas. welcome back.that in a second, we will look at that story. broadly speaking, how do you feel about this rally? >> what is most important about this move, there is still a cyclical tone to the leadership. we see it with destruction airy over staples, nothing from utilities. i think that's an important point. if this market is going to change character, i would suggest to see the defenses group to step up, there's been no evidence of that here. also, none globally. look at the leadership from the autos, the leaders in europe, asia, japan. it's a very pro cyclical tone party system. >> maybe yields could be too elevated still getting money into the areas that you're talking about, correct? >> utilities, staples? >> i know what you're saying that it intuitively makes some sense. if you look at it historically, typically the defense will actually work in the last move of a right move higher. the market begins to anticipate -- >> they sniff it out. >> they sniff out, wait a second, the yields are too hig