Let’s take a quick look back at what happened in the first quarter of this year among the components of the S&P 500 index.

Freepik

Here is how the various sectors performed, with tech on top and financials at the bottom.

The top gainers were, naturally, mostly tech, with graphics card maker Nvidia at the top of the heap, nearly doubling in price in just one quarter.

Banks brought up the rear, with Signature and Silicon Valley basically being zeroed out.

Here we see the quarterly bar chart of the S&P 500 during the entirety of this Everything Bubble. The penultimate large green bar represents Q1, whereas the rightmost small bar (which is unfortunately above resistance now) is Q2 so far.

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