The S&P 500 surged 1.45% on the day after the Fed announced its first rate hike in nearly a decade.  Below is a look at the performance breakdown by sector.  Notably, Energy fell 0.51% as oil prices plummeted once again.  Even more notable is the underperformance we saw in Health Care and Technology — two cyclicals, and the outpeformance in defensive sectors like Utilities, Telecom and Consumer Staples.  We’ll be keeping an eye on this performance divergence in the coming days.

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The S&P 500’s move higher today pushed it back above its 50-day moving average.  Six sectors are now above their 50-days, while three are overbought (Consumer Staples, Health Care and Telecom).  Energy and Materials remain oversold.

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