The first quarter is coming to a close. A great one, but cracks are emerging.
The S&P 500 is up over 11 percent this quarter, but there is a wide dispersion of results.
The good news: the market leader, Technology, up nearly 21 percent, holding up well, along with several other sectors:
Tech +20.96% near highs
Cons. Discretionary +14.16% near highs
Health Care +7.15% near highs
Cons. Staples +3.69% near highs
But: warning! The other big market leader, Financials (up 20 percent) has been slipping, and the slowing global growth story has really crimped Industrials, Materials, and Energy...
Financials +20.14% topped 2 weeks ago
Industrials +9.27% topped in Feb
Materials +8.99% topped in Feb.
Energy +1.68% topped in Feb; rolling over
Telecom -0.36% topped week ago; rolling over
Utilities -3.77% down for quarter
I'm most worried about Energy, which has been battered by low natural gas prices as well as the slowing global growth story in the last couple days. Energy topped in the last week of February and is down 6 percent since then.
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