The Power Index ranks the 11 S&P 500 sectors by relative performance for the week ending April 24, 2026, using the Monday close to Friday close window. This is the Monday slot, so the read reflects the full completed weekly structure after Friday’s close.
The top of the table held steady for another week. Technology remained first. The bottom shifted, with Energy lifting off last and Consumer Staples dropping into it. The structure shows partial reshuffling at the bottom, but leadership did not change.
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Ranked: The Split
Start at the top.
Technology finished first again, up roughly +3.6% on the week. Communication Services followed near +3.1%, with Consumer Discretionary close behind at about +2.9%.
That top tier has now repeated across two weekly windows.
This is not rotation.
This is persistence.
Money is still paying for growth-linked sectors first. The leadership group did not widen. It stayed intact.
Now tighten the structure.
The top 3 sectors accounted for roughly 55–60% of total positive sector movement this week. Add Financials, and the top 4 pushed closer to ~68%.
The market moved higher.
But most of that move came from a small cluster.
Participation remains concentrated.
Now drop to the bottom.
Consumer Staples finished last, slightly negative around -0.2%. Health Care sat just above it, near flat.
Energy did not stay there.
Energy moved up to seventh, posting roughly +3.2% on the week.
That is the only real reshuffle in the entire table.
But look closer.
Energy did not move into leadership.
It moved out of rejection.
This is not capital rotating into laggards at scale. It is a selective re-entry into one previously ignored segment.
Now check the middle.
Industrials, Materials, and Financials all landed between roughly +1.8% and +2.5%.
Positive, stable, but not competitive with the top tier.
They held position.
They did not challenge leadership.
That is holding behavior, not aggressive allocation.
Now anchor it with breadth.
SPY rose roughly +2.6% on the week. RSP gained about +1.2%.
That leaves a spread of around 1.4 points.
The index moved more than the average stock again.
The move was not evenly distributed.
Put it together clean.
The same top tier stayed in control.
The bottom shifted slightly, but did not reverse.
The middle stayed in place.
Money is not rotating broadly.
It is concentrating, with small cracks appearing underneath.
And that leaves the tension:
Energy moved, but nothing else followed.
If participation does not expand beyond a single exception, the structure stays narrow even as prices rise.