SPY sectors, latest weighting as of 11/12/20:
Information Tech 27.9%,
Health 14.1%,
Communications 11.0% (XLC = overweight FB and GOOG which are not in the XLK),
Consumer discretionary 11.2% (XLY= overweight AMZN and HD)
Financials 10.1%, Industrials 8.5%, Staples 6.9%, Utilities 3.09%, Materials 2.6%, Real Estate 2.6%, Energy 2.1%
If you cobine all the non-Tech sectors (health, financials, industrials, staples, utilities, materials, real estate, energy), they add up to 49.9% of SPY.
Rounded to 50%. Yup, fifty percent. And it appears that 50% is working hard.
Daily charts, two months