Since the April 8th low, Technology (INFT) has dominated sector performance, surging ahead of all others and outperforming the S&P 500 by a remarkable 29% at the six-month mark. The performance represents the second most significant relative gain by the sector following any correction or bear market since 1956, surpassed only by the 1982 rebound. Furthermore, the group has now beaten the S&P 500 in 16 consecutive instances, last underperforming in 1987.
Consumer Staples, Health Care, and Financials underperformed the S&P 500 by the widest margin in history.
When you tally the sectors that beat the S&P 500, only two make the cut — the second-fewest on record, behind October 1999, when technology was the sole outperformer during another episode of extreme crowding in tech.
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