Sector performance snapshot — all 1Y changes:
Tech still leading but momentum cooling. Energy getting interesting after the washout. Financials holding up better than most expected given the rate environment.
Utilities and Staples lagging hard — classic late-cycle defensives getting left behind while growth still has legs.
Watch Industrials here. If they start rolling over while Tech holds, that's your canary. If they catch a bid, we're extending.
Tech still leading but momentum cooling. Energy getting interesting after the washout. Financials holding up better than most expected given the rate environment.
Utilities and Staples lagging hard — classic late-cycle defensives getting left behind while growth still has legs.
Watch Industrials here. If they start rolling over while Tech holds, that's your canary. If they catch a bid, we're extending.
