The Power Index ranks the 11 S&P 500 sectors by relative performance for the week ending April 2, 2026, using the Monday close to Thursday close window. This is the Monday slot, so the read is built from the completed weekly sector structure already in hand by Thursday’s close.
The table did not hold its shape. It flipped. Real Estate moved from last to first. Energy moved from first to last. The top opened up, but not evenly. The bottom broke apart, but one sector took most of the damage. This was not a smooth rotation. It was a hard reset.
Ranked: The Inversion
Real Estate at number one is not just a bounce. It is where money went.
That matters.
When a sector moves from last to first in one weekly window, that is not normal drift. That is a full change in position. Real Estate gained about +3.28%. It did not just recover. It led.
But the real signal is what flipped with it.
Energy went from first to last. Down about -3.69%. That is a near 7-point spread between the top and bottom of the same table.
That is not noise. That is a clean reversal.
Now look at what sat right behind Real Estate.
Materials at number two. Communication Services at number three. Technology at number four.
Those four sectors together drove about 64% of all positive gains across the board.
That changes the read.
The table looks broader than last week. More sectors moved up. But the strength still packed into a tight group at the top. It did not spread evenly across all 11 sectors.
That is not full expansion. That is fast concentration.
Now look at the bottom.
Health Care finished ninth at +0.73%. Consumer Discretionary finished tenth at -0.62%. Energy stayed alone at the bottom with the deepest loss.
That lower tier is not random.
This was not a week where the market sold everything.
It sold Energy.
That distinction matters.
Consumer Discretionary stayed weak. But it did not break. Health Care held small gains, but it did not act like strong protection. Energy is the only sector that fully lost support.
Energy matters most here.
Last place is not just underperformance. It is rejection.
When a sector moves from first to last in one window, that says money did not just rotate out. It exited fast.
The middle of the board also tells you something useful.
Industrials, Financials, and Consumer Staples sat in the middle again. They did not move up enough to lead. They did not fall enough to break. Money held them, but did not chase them.
That is not rotation. That is hesitation.
One more reference keeps the read clean.
SPY rose about +1.66% for the week. RSP rose about +1.05%. That gap shows the average stock still lagged the index.
So the market did move up.
But the move still leaned on stronger names more than the full board.
And that is the real structural read from this table:
Money did not move slowly. It flipped positions fast.
Leadership changed. But it did not fully open up.
Energy lost support. Real Estate gained it.
The market rose. But not evenly.
That leaves one tension still sitting inside the table:
The board reopened at the top.
But it did not open for everyone.