The chart below shows that all nine sectors of the S&P 500 are in the black this months. Industrials, Cyclicals and Financials are the leaders, Energy and Utility sectors are far behind.
The performance chart below shows the Railroad, Trucking and Delivery Services indices during the past three months. These three indices are components of the Industrial Sector. All three of them are in an uptrend. This shows a healthy economy where there is a need to transport all the unfinished and finished goods between suppliers and customers.
As offensive sectors declined money was rotated into defensive sectors. During the past month the utility sector was especially doing well. The market carpet below shows how the utility stocks in the S&P 500 performed during the past month. When the utility sector loses leadership that would be a sign that the equity market found a firm support.
The performance chart below shows the nine sectors of the S&P 500 with the S&P 200 ETF, SPY. As you can see SPY didn't go anywhere during the past month but four sectors, the financials, utilities, energy and consumer staples showed strength. On the downside health care and cyclicals where the weakest.