Winners, losers are switching places
Bryan McCormick | [email protected]
So far the financial sector is up 5.92 percent for the year, and materials are up more than 7.3 percent. Even more remarkable is that the advance in materials has occurred as the U.S. Dollar Index has risen as well.
As for last year's winners, the utilities and staples are now the worst performers. Utilities are down more than 3.5 percent, and staples are lower by 1.1 percent.
Sector breadth in 2012 is also the inverse of last year. Only two sectors are down, the utilities and staples.
The big challenge now is whether sector breadth can remain this strong as we head into earnings season.