Me Again

How Sectors Are - Or Aren't - Holding Up

Financials went up, energy down in the S&P 600 in part because of rebalancing. The absolute number of small cap energy names plummeted, as so many names grew out of the cap range. Meanwhile, lots of ex-large and midcap financials are now small and micro. The S&P indices are not passive, but they can't escape the absolute sizes of the opportunity sets.