Tech it all

Here is a sector view of the US equity market in terms of valuation. All sectors in the S&P 500, from real estate to materials, trade currently at a discount to their 10 years average based on the most common valuation measures. There is only one notable exception and that is information technology trading 1.7 standard deviations above its average in terms of valuation. Due to the high weighting of tech, it makes the whole S&P 500 look overvalued.