The sector weightings, complete with their average, are depicted in the following charts. Of course the average means little to nothing, but it in the short term might throw up some trading ideas.

Technology. Is an early leader in an expansionary business cycle. As we are in the early stages of a contraction, technology might be one to underweight currently, unless it’s cheap, unloved and undiscovered currently.
Financials. I avoid. No transparency. Full of lies. A bit like flippe-floppe-flye.
Health Care. Another industry that I avoid like the plague. Medical Ethics are non-existent.
Consumer Staples. Defensive, and generally pretty solid. Need to find a solid dividend payer cheap.

Energy Long term, yes. Currently no. Energy has already run it’s race this cycle. Look again after QE2 comes to an end. The consensus seems to be that a QE3 is a given down the road.
Industrials Always worth having some, just finding the right ones currently.
Consumer Discretionary Again worth having some exposure generally. Now looks to be a propitious time to enter the sector.
Materials Based on the weighting, looks to be an interesting sector. I’ll have a further look. Of course, this happens to be a hot sector: POT, you name it, gold miners, silver miners, they are all in here. Makes for an interesting question: the sector, is underweight in the index, the stocks, many are extended. Which carries more weight? I’d definitely be interested in an ETF of gold/silver miners in the future, if prices should fall significantly for any reason, they are definitely on my to buy in the future list.