S&P 500 - Relative rotation graph (RRG)

LEADING

• Energy (#IXE)

• Financials (#IXM)

• Industrials (#IXI)

• Materials (#IXB)

IMPROVING

• Utilities (#IXU)

• Consumer Staples (#IXR)

• Healthcare (#IXV)

• Consumer Discretionary (#IXY)

WEAKENING

• Communications (#IXC)

LAGGING

• Real Estate (#IRE)

• Technology (#IXT)

London, 12 March 2021