RS Momentum Heatmap — ProInvestor Research

How to read this chart

Each cell shows how fast a sector is gaining or losing ground against the S&P 500 — not its total return. The metric is the 10-day (2-week) rate of change of the sector-to-SPY price ratio: it measures acceleration, not score.

Green = the sector is pulling ahead of SPY faster than last month. Red = it is losing ground at an accelerating pace. A sector can be a long-term winner yet show red here because the outperformance is stalling — and vice versa. Watch for colour changes across months: that is where rotation is happening.

▶ What to use this for — and why it reads differently to most sector tools

Most sector dashboards are first-order: they show returns, or a sector’s price relative to SPY. Both tell you where things have been. This chart is second-order: it shows the rate of change of relative strength — how fast the gap between a sector and the market is opening or closing right now. The analogy is velocity vs acceleration. Return tables show velocity. This shows acceleration.

That distinction matters because the best entries and exits happen at the inflection point, not after it is visible in returns. A sector with a strong 12-month return can be deep red here — and that is the signal to watch.

🔴 EXIT SIGNAL ON WINNERS

A long-term outperformer turning red here means money is rotating out before return tables reflect it. The 12-month number still looks good. This does not.

🟢 ENTRY ON LAGGARDS

A weak sector turning green signals acceleration out of underperformance. Historically the best risk/reward in a rotation trade sits here, not after the move is already priced in.

🔄 REGIME CHANGE

When most sectors flip simultaneously — broad red or broad green across the row — it is not sector rotation. It is a market-wide risk shift. Treat it differently.

What it is not: a momentum screener or a returns rank. Do not use it to find “the best performing sector.” Use it to find sectors where the direction of change is shifting. That is the only question it is designed to answer.

Sector Relative Strength Momentum

Row order Default is fixed so rows do not jump after refresh

Underperforming

Outperforming

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