Technology Rallies; Financials Falter

The S&P 500 is up 9.34% this month.  Below we highlight sector performance month to date.  As shown, Technology is up the most with a gain of 12.71%, followed by Consumer Discretionary and Industrials.  The Materials sector is the only other sector outperforming the index as a whole for the month.  Of the cyclicals, the Financial sector has done the worst with a gain of just 7.46% so far this September. 

Below are relative strength charts of the Technology and Financial sectors versus the S&P 500.  A rising line indicates outperformance versus the overall market, while a declining line represents underperformance.  As shown, Technology has really bounced significantly this month, while the Financial sector has been underperforming for six months now.