[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fR3czU0ll_RUWHz73_VblE3ywg_QZhc48w0fy1i23GMY":3},{"data":4},{"email_capture_popup":5,"split_tested":6,"subtitle":7,"enforce_gated_content":6,"audience":8,"preview_text":7,"newsletter_list_id":9,"authors":10,"status":12,"title":13,"publish_date":14,"content_tags":15,"meta_default_title":9,"meta_default_description":16,"hidden_from_feed":6,"created":17,"subject_line":13,"free_content_html":18,"thumbnail_url":19,"displayed_date":9,"slug":20,"id":21,"platform":8,"web_url":22},true,false,"A multi-factor ranking of every S&P sector.","both",null,[11],"Nicholas Crown","confirmed","The 2026 Sector Scorecard",1771239608,[],"Sector rotation in 2026 is accelerating. See which S&P sectors lead on momentum, relative strength, and forward earnings setup.",1770932077,"\u003Cstyle>\n  p span[style*=\"font-size\"] { line-height: 1.6; }\n\u003C\u002Fstyle>\u003Cdiv style=\"padding-bottom:12px;padding-left:15px;padding-right:15px;padding-top:12px;\">\u003Cp style=\"color:#2D2D2D;color:var(--wt-text-on-background-color) !important;font-family:'Helvetica',Arial,sans-serif;font-size:16px;line-height:1.5;text-align:left;\"> Good morning. Let’s get into it. \u003C\u002Fp>\u003C\u002Fdiv>\u003Cstyle>\n  p span[style*=\"font-size\"] { line-height: 1.6; }\n\u003C\u002Fstyle>\u003Cdiv style=\"padding-bottom:12px;padding-left:15px;padding-right:15px;padding-top:12px;\">\u003Cp style=\"color:#2D2D2D;color:var(--wt-text-on-background-color) !important;font-family:'Helvetica',Arial,sans-serif;font-size:16px;line-height:1.5;text-align:left;\"> After the semiconductor bottlenecks framework we discussed last week, the obvious next question is: where do you diversify in 2026 beyond tech? \u003C\u002Fp>\u003C\u002Fdiv>\u003Cstyle>\n  p span[style*=\"font-size\"] { line-height: 1.6; }\n\u003C\u002Fstyle>\u003Cdiv style=\"padding-bottom:12px;padding-left:15px;padding-right:15px;padding-top:12px;\">\u003Cp style=\"color:#2D2D2D;color:var(--wt-text-on-background-color) !important;font-family:'Helvetica',Arial,sans-serif;font-size:16px;line-height:1.5;text-align:left;\"> The key point is this: you know the market is already rotating, as I discuss this almost daily in my Morning Market Updates since the Dec 13th rate cut, \u003Cb>but it is not rotating \u003C\u002Fb>\u003Ci>\u003Cb>evenly\u003C\u002Fb>\u003C\u002Fi>\u003Cb>.\u003C\u002Fb>\u003C\u002Fp>\u003C\u002Fdiv>\u003Cdiv style=\"padding-left:15px;padding-right:15px;\">\u003Cdiv style=\"padding-bottom:20px;padding-left:0px;padding-right:0px;padding-top:20px;\">\u003Cimg alt=\"\" style=\"margin:0 auto 0 auto;width:100%;\" src=\"https:\u002F\u002Fmedia.beehiiv.com\u002Fcdn-cgi\u002Fimage\u002Ffit=scale-down,format=auto,onerror=redirect,quality=80\u002Fuploads\u002Fasset\u002Ffile\u002F06ace0b0-9d09-4f6e-8d26-13122f31b321\u002Fimage.png?t=1770932184\">\u003Cdiv style=\"margin:0 auto 0 auto;padding:4px 0px 4px 0px;text-align:center;width:100%;\">\u003Csmall style=\"color:#000000;color:var(--wt-text-on-background-color) !important;font-family:'Helvetica',Arial,sans-serif;font-size:12px;font-style:italic;text-decoration-color:#000000;text-decoration:none;\">\u003Cp>The leadership handoff is well underway.\u003C\u002Fp>\u003C\u002Fsmall>\u003C\u002Fdiv>\u003C\u002Fdiv>\u003C\u002Fdiv>\u003Cstyle>\n  p span[style*=\"font-size\"] { line-height: 1.6; }\n\u003C\u002Fstyle>\u003Cdiv style=\"padding-bottom:12px;padding-left:15px;padding-right:15px;padding-top:12px;\">\u003Cp style=\"color:#2D2D2D;color:var(--wt-text-on-background-color) !important;font-family:'Helvetica',Arial,sans-serif;font-size:16px;line-height:1.5;text-align:left;\"> In January, the S&P 500 (white) was up 1.45%, but the rally broadened: S&P MidCap 400 (blue) +4.05% and S&P SmallCap 600 (green) +5.61%, while the S&P 500 Top 50 (orange) was -0.47%. \u003C\u002Fp>\u003C\u002Fdiv>\u003Cstyle>\n  p span[style*=\"font-size\"] { line-height: 1.6; }\n\u003C\u002Fstyle>\u003Cdiv style=\"padding-bottom:12px;padding-left:15px;padding-right:15px;padding-top:12px;\">\u003Cp style=\"color:#2D2D2D;color:var(--wt-text-on-background-color) !important;font-family:'Helvetica',Arial,sans-serif;font-size:16px;line-height:1.5;text-align:left;\"> Of course, leadership broadening does not just mean “go buy small cap.” \u003C\u002Fp>\u003C\u002Fdiv>\u003Cstyle>\n  p span[style*=\"font-size\"] { line-height: 1.6; }\n\u003C\u002Fstyle>\u003Cdiv style=\"padding-bottom:12px;padding-left:15px;padding-right:15px;padding-top:12px;\">\u003Cp style=\"color:#2D2D2D;color:var(--wt-text-on-background-color) !important;font-family:'Helvetica',Arial,sans-serif;font-size:16px;line-height:1.5;text-align:left;\"> Rather, we want to uncover exactly which sectors are gaining momentum and still have runway outside of tech. \u003C\u002Fp>\u003C\u002Fdiv>\u003Cstyle>\n  p span[style*=\"font-size\"] { line-height: 1.6; }\n\u003C\u002Fstyle>\u003Cdiv style=\"padding-bottom:12px;padding-left:15px;padding-right:15px;padding-top:12px;\">\u003Cp style=\"color:#2D2D2D;color:var(--wt-text-on-background-color) !important;font-family:'Helvetica',Arial,sans-serif;font-size:16px;line-height:1.5;text-align:left;\"> To answer that, I score every sector using a multi-factor rubric so you can position with new leadership as it develops, not after the headlines catch up. \u003C\u002Fp>\u003C\u002Fdiv>\u003Cdiv id=\"what-this-letter-covers\" style=\"padding-bottom:4px;padding-left:15px;padding-right:15px;padding-top:16px;\">\u003Ch2 style=\"color:#2A2A2A;font-family:'Trebuchet MS','Lucida Grande',Tahoma,sans-serif;font-size:24px;font-weight:normal;line-height:1.5;margin:0;text-align:left;\">What this letter covers:\u003C\u002Fh2>\u003C\u002Fdiv>\u003Cdiv style=\"padding-bottom:12px;padding-left:37px;padding-right:27px;padding-top:12px;\">\u003Cul style=\"color:var(--wt-text-on-background-color) !important;font-family:'Helvetica',Arial,sans-serif;font-size:16px;line-height:24px;list-style-type:disc;margin:0px 0px 0px 25px;padding:0;\">\u003Cli style=\"margin:10px 0px 0px 0px;\">\u003Cp style=\"text-align:left;\"> The exact multi-factor rubric used to rank every S&P sector \u003C\u002Fp>\u003C\u002Fli>\u003Cli style=\"margin:10px 0px 0px 0px;\">\u003Cp style=\"text-align:left;\"> The full sector scorecard (price, trend, and forward setup) \u003C\u002Fp>\u003C\u002Fli>\u003Cli style=\"margin:10px 0px 0px 0px;\">\u003Cp style=\"text-align:left;\"> The top three sectors based on composite ranking \u003C\u002Fp>\u003C\u002Fli>\u003Cli style=\"margin:10px 0px 0px 0px;\">\u003Cp style=\"text-align:left;\"> Explicit trade expressions and portfolio weights \u003C\u002Fp>\u003C\u002Fli>\u003Cli style=\"margin:10px 0px 0px 0px;\">\u003Cp style=\"text-align:left;\"> Clear invalidation triggers \u003C\u002Fp>\u003C\u002Fli>\u003C\u002Ful>\u003C\u002Fdiv>","https:\u002F\u002Fbeehiiv-images-production.s3.amazonaws.com\u002Fuploads\u002Fasset\u002Ffile\u002F9cebdc8c-7655-48ad-bbcd-ad2ccb270848\u002Fcrown_macro_cover__5_.png?t=1771205857","the-2026-sector-scorecard","post_ed22cb8b-86eb-4b82-8d9c-62e01d79c817","https:\u002F\u002Fletter.nicholascrown.com\u002Fp\u002Fthe-2026-sector-scorecard"]