Chart of the Day - Tuesday, July 2nd, 2019

Today's chart of the day was shared on Twitter by Rich Meatto (@koyfinTrader). It's a chart showing the performance of all 11 sectors of the S&P 500, over the trailing 12-months. Rich highlights how poorly the Energy sector ($XLE) has fared relative to the other sectors. As you can see, $XLE is down 14.85% while the S&P 500 ($SPY) is up 11.15%. Not only is it the worst performing sector by far, but it's also the only sector that's in negative territory. In addition, you'll notice $XLE is one of the only sectors in a clear downtrend. The Energy sector is highly correlated to Crude Oil. Today provided no relief for the sector with Crude Oil falling below both the 50 and 200-day moving averages, plummeting 4.81%, making Energy the worst performing sector on the day. For now, there's little evidence to suggest that Energy will stabilize and catch-up to the other sectors.