Energy and these 2 other sectors led the S&P 500. Now they’ve tanked. Here’s why that could be good for the stock market.
An unwind of the stock market’s best performing sectors had to happen eventually.
And that may be just what this bear market ordered, according to Jonathan Krinsky, chief market technician at BTIG.
Since June 8, energy, utilities and materials have been the S&P 500’s
worst-performing sectors, dropping 20%, 12% and 14% respectively, he told clients in a note on Monday. Through June 7, those had been the hottest sectors — up…