This Index Just Did Something It Hasn't Done Since 2009. Is It Time To Buy?

The Invesco S&P 500 Equal Weight ETF gained 5% in October while the S&P 500 fell 0.8%, marking the biggest monthly outperformance since 2009. This reflects a significant market rotation away from mega-cap tech stocks toward defensive sectors like energy, consumer staples, utilities, and healthcare. While the overall market remains resilient with 70% of S&P 500 components up, the concentration in tech stocks has made the market vulnerable to corrections as AI enthusiasm cools.