The highest scoring names in large cap from 1 year ago (4/2/2014) returned an average 21.35% in the past year with 94% of those scoring above 90 posting gains.  Performance has been led by CMG up 75%, BSX up 67%, and MGA up 67%.

• The best large cap sector is utilities
• The top large cap industry is industrial metals

Scores have rolled to reflect second quarter seasonality. That shift has provided new support to healthcare.  Broadly, second quarter seasonality rewards defensive baskets ahead of typical pre-summer portfolio de-risking. The top large cap sectors are utilities, healthcare, and industrial goods.
 
The average large cap score is 61.28, below the four week moving average of 64.18. The average large cap is trading -9.6% below its 52 week high, 4.52% above its 200 dma, has 3.94 days to cover held short, and is expected to generate EPS growth of 14% next year.
 
Consumer goods and technology score in line. Financials, basics, and services score below average. In financials, March and April are historically peak performing months for banking and capital markets, while May and June are weak returning months relative to the market.

The following table provides insight into market second quarter seasonality. Generally, markets downshift to neutral in the second quarter, with the SPY gaining in 6 of the past 10 years, returning a median 0.73% in the quarter.

The following chart visualizes our models' historical scores for our large cap universe.

The best large cap industry is industrial metals & minerals.  Aerospace/defense stocks score highly ahead of summer air show order season. Electric utilities historically benefit ahead of summer peak demand season.  Auto parts demand continues to be supported by domestic production/demand. Recovering demand in Europe provides upside and remains under-modeled. Specialized semi rounds out the best scoring list this week. Semiconductor seasonality is solid into peak SEMI book-to-bill in Q2.

In big cap basics, buy industrial metals & minerals, major chemicals, and ag chemicals.

In consumer, focus on auto parts, beverages, and processed & packaged goods. Beverages are typically strong performers ahead of hot weather demand. In financials, concentrate on credit services, REITs and money centers. April marks the peak seasonal performance for banks and capital markets. 

Every healthcare group scores above average, led by drug makers, medical appliances, and health care plans.  The best industrial goods groups are aerospace/defense, diversified machinery, and industrial equipment. In services, managers should be overweight drug stores, rails, and lodging.  The top tech groups are semi specialized, semi equipment, communication equipment, and diversified computers. Utilities offer robust seasonality into summer.