The chart below is extremely revealing this week, as we see that plunge in relative strength of Industrials very clearly. On the strong side, we have to give our highest accolades to Healthcare, since it's strength has been so consistent for the last six months and is also showing nice gains in the last few weeks. On the other hand, Technology continues to languish, especially the large-cap portion of the sector.
The charts below also show how this has become a large-cap market, as we see wide discrepancies in the Consumer Discretion and Healthcare sectors in favor of large-caps (market weight sectors are outperforming their equal weight counterparts).
Don Hays, Justin Wood & Daniel Petzold
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