Tech and Energy Recover from Corrections, Financials Remain in Decline

The technology and energy sectors both entered 10% rallies last week.   Energy rebounded from its 11.9% correction that began on 4/29 and bottomed on 6/24.  The sector is up 12.0% from the bottom and on average continues 18.5% higher for a duration of 163 days.  Tech bounced back from its 11.2% correction that began 2/17 and bottomed 6/17.  Tech is up 10.8% from the bottom; the average 10% rally in the tech sector continues 20.6% higher from current and lasts an additional 96 days. 

Below is the 10% filter for the market and all the sectors.  Financials are the only sector that remains in a 10% decline.   The sector is down 14.7% from its peak on 2/18.