Weird action in the financial and materials sector...

There has been some strange action in the financial and materials sectors over the past few weeks. Since September 18th, the day the SPYs made an all-time high, both sectors have been in a free-fall. They also traded up and became overbought in the days just before. I’m not sure what happened here. My guess is that there were some hedge funds that were underweight these sectors and some kind of program kicked in when it seemed the SPYs were about to make new highs.