As the cries for a market pullback seem to be getting louder the markets remain at highs. The S&P 500 (SPY  ) has been consolidating near record highs but maintaining consistent volume, even during the summer season. For the year the SPY is up over 8% and remains in a consistent uptrend. As of this week, if there has been no reason for investors to sell or worry in any way.

The Nasdaq 100 (QQQ  ) has also been a bit back and forth this week so far as it struggles to convince investors to buy back in after the one day melt down it had two weeks ago. For the year this ETF is by far the strongest of the major market ETF's, but for now remains quiet.

Healthcare (XLV  ) has continued its rally so far this week with a move to new highs each day. For the week it is up over 2% in almost a straight line. Healthcare is one of those sectors that continues to be in the news and will likely stay that way. For now the bulls are in control and have pushed this ETF higher by 15% for 2017.

Oil (USO  ) has officially entered a bear market this week. Over the past month USO has sold off over 15% in a consistent downtrend. This week so far it is lower by 3% which has hurt the Oil Exploration (XOP  ) sector as well. The explorers have been in a strong downtrend and nothing about that has changed this week. For the year the XOP has racked up over 26% in losses, yet technical traders note that it is not very extended in the short term. Expect any oil related news to continue to cause increased volatility in the oil and oil service ETF's.

Lastly, Volatility (VXX  ) marked a new low once again this week as investors still have no reason to be concerned. Traders, and the media have been having fun speculating what may be the event that finally causes a bounce in the popular fear index.