Health care and staples stood out, with $XLV up 2.5% and $XLP up 2.2%, while value materially outperformed growth as $VTV rose 0.2% against a 1.9% drop in $VUG. Energy was the main cyclical exception, with $XLE up 0.6% and oil-linked funds extending strong 5- to 10-day trends.

Market Observation for Oct 14:
Value held up far better than growth, with $VTV up 0.2% versus $VUG down 2.1% and $IWF down 2.2%.

Market Observation for Sep 2:
Small caps and value outperformed: $IWM gained 1.18% while $VTV rose 0.65% versus $VUG at 0.26% and $QQQ at 0.23%.