Constant sector rotation has been the theme for 2013.

Global X Social Media Index ETF (SOCL) has formed a seven-week base.

Despite breaking down below the 10 and 40-week moving averages a few weeks ago, Physical Palladium ETF (PALL) is still holding on, and could potentially offer a low-risk entry point on a close above its 10 and 40-week moving averages.

After pulling back in about 10% off its recent swing high, SPDR S&P Oil & Gas Exploration & Production ETF (XOP) found support at the 50-day moving average, where it has since been consolidating in a tight range.

Relative strength returned to the NASDAQ Composite and Russell 2000 last week, as the S&P 500 and Dow Jones stalled out.

Leadership from the small cap index returned yesterday, with the Russell 2000 posting a 0.9 percent gain, as the S&P 500 and Dow Jones were basically flat.

Monday's gap down in Market Vectors Gold Miners ETF (GDX) produced a new 52-week low for the year.

After a strong move to the prior swing high last Wednesday, the UltraShort 20+ Year T-bond ETF (TBT) has backed off over the past few days and has pulled back in, stopping just shy of its 20-day exponential moving average

PowerShares DWA Developed Markets Momentum Portfolio (PIZ) has tightened up nicely over the past few weeks, holding support of the 10-week moving average.

ProShares UltraShort Lehman 20+ Yr (TBT) looks to be resuming its new uptrend after a three-month break, as yesterday's strong advance was confirmed by heavier than average volume.