Bespoke Investment Group - Think BIG - Sector Relative Strength

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Aug032010

Sector Relative Strength

Tuesday, August 3, 2010 at 02:08PM

With the equity market's current rally recently surpassing the one month mark, we wanted to highlight the relative strength of each of the major sectors versus the S&P 500. This allows us to see which sectors are leading the market higher and which are lagging. In each chart, a rising line indicates outperformance while a declining line indicates underperformance.

Over the last month both of the Consumer sectors have been notable laggards. While it's not uncommon to see a defensive sector like Consumer Staples lag while the market is rising, we would have expected to see more strength in the Discretionary sector, which had outperformed for much of the rally off the March 2009 lows. Sectors which have led the market higher in recent weeks include an odd grouping of Energy, Industrials, Materials, Telecom Services, and Utilities. Notably absent from the list is Technology, which has been neither a leader nor a laggard during the market's rebound.

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August 3, 2010 |

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