Prepared for you by Randy Dunham
October 5, 2026
THE PRINT
Technology was the only positive sector in September.
THE CHART(S) / DATA
Note: This uses equally weighted sectors, which gives a fairer view of sector performance than cap-weighted sectors.
September was a rough month for most sectors.
10 of 11 S&P 500 sectors are down, with Financials, Basic Materials and Consumer Discretionary among the biggest laggards.
This fits with the recent deterioration in market breadth. But we know that weak breadth isn’t a surefire sell signal: “Less than 50% of stocks in the S&P 500 are trading above their 200-day moving average. So far this cycle, that’s been a bullish thing.”
The gap between the best and worst sectors is now more than 60 percentage points YTD — a reflection of a bifurcated market.
One thing is for sure though, technology remains the leader.
Takeaway: The market has been highly split this year, and September was a weak month for most sectors. But Technology has held up well, and its resilience in September makes it worth watching for the months ahead.
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Material, data, and information in this newsletter are for informational purposes only. This is not tax, legal, or investment advice, and does not constitute a suggestion, solicitation, or offer to buy or sell securities. TTI believes this information is reliable but does not warrant its completeness or accuracy.