Tech Sector Continues to Pave the Way

On a relative strength basis the tech sector broke out to new highs on Friday and is in a good position to continue its leadership roll. Over the last year technology stocks have been clear leaders among S&P 500 names. Google (GOOG), Apple (AAPL) and IBM for example all bottomed in 2008 and did not participate in the market's January decline.

By breaking the sector down into its members, the stocks that led this last push higher (beginning with the 10/19 high) are shown below. Microsoft (MSFT) alone accounted for 54.6% of the sectors's 2.77% gain.