US Sector Update: Friday, September 7, 2012

In the last few weeks, it has been an Apple and Amazon bull market, with those two Tech names leading the parade.  In the most recent month, however, we are seeing a few of those "average" size names start to wake up.
In the chart above, which shows the year-to-date performance of the market weighted and equal weighted S&P 500 sectors, you can see the large difference in Technology of almost 10%.  You can also see that the equal weighted Healthcare, Telecom, and Utilities sectors are currently leading their market weighted counterparts.
Over the past month, 7 of the 10 equal weighted S&P 500 sectors have moved up over 2%, while only one sector - Utilities - has shown a loss.  If you factor out the misleading Telecom sector, with its few names, Consumer Discretion continues to be the best performing sector from an equal weighted perspective.  Financials have also improved recently, with a steady increase following its mid-August lows.
Don Hays, Nicholas Warf & Justin Wood
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