Tech is completely dominating the market. But these sectors could be poised to catch up

A quick glimpse at the sector ETFs since the March 30 low tells us what we already know. There's outperformance, and then there's what Technology has done versus the rest of the market over the last six weeks — complete domination. But we know one thing: it can't last forever. What we don't know is when the group finally sees some profit taking and how the rest of the market will respond when that happens. For this uptrend to continue, it would most likely need to morph into a slower, more consistent (even boring) trading environment, much like we saw from May–October 2025. For that to happen, we'll need to see rotation. First, let's take a look at an important ratio: S & P 500 vs. RSP Equal Weight S & P 500 . Despite the SPX continuing to make new highs, equal-weight performance has once again lagged, meaning the largest stocks have remained firmly in control. This is widely understood. We'll recall that the non-tech outperformance from late 2025 through the first quarter of 2026 helped spike this ratio line, but that leadership shift quickly faded, and the ratio has rolled over once again. Now, with the RSP/SPX ratio approaching new relative lows and momentum getting close to oversold territory again, an important question emerges: is this extreme discrepancy between market-cap-weighted and equal-weight performance due for another reversal? If breadth begins to improve, it could signal that participation beneath the surface is finally broadening once again. …