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Daily Report : A curious lack of new highs among sectors

Jason Goepfert
2025-01-27
As the S&P 500 pushed to record high territory last week, only one sector also hit a record high. And only around 60% of S&P 500 stocks are even trading above their 200-day moving average, also a low number for a day when the S&P hits a record. Similar behavior has preceded mostly weak returns, but not consistently enough to be a major warning sign.
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Headlines

A curious lack of new highs among sectors: As the S&P 500 pushed to record high territory last week, only one sector also hit a record high. And only around 60% of S&P 500 stocks are even trading above their 200-day moving average, also a low number for a day when the S&P hits a record. Similar behavior has preceded mostly weak returns, but not consistently enough to be a major warning sign.

Smart / Dumb Money Confidence

Smart Money Confidence: 30% Dumb Money Confidence: 64%

Risk Levels

Stocks Short-Term

Stocks Medium-Term

Bonds

Crude Oil

Gold

Agriculture

Research

A curious lack of new highs among sectors

By Jason Goepfert

BOTTOM LINE
As the S&P 500 pushed to record high territory last week, only one sector also hit a record high. And only around 60% of S&P 500 stocks are even trading above their 200-day moving average, also a low number for a day when the S&P hits a record. Similar behavior has preceded mostly weak returns, but not consistently enough to be a major warning sign.

FORECAST / TIMEFRAME
None

Sentiment Risk On / Risk Off Overview

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Indicators at Extremes

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% Showing Pessimism: 12%
Bullish for Stocks
Inverse ETF Volume
S&P 500 Down Pressure
OEX Open Interest Ratio
OEX Put/Call Ratio
AIM (Advisor and Investor Model)
Mutual Fund Flow (no ETFs)
CSFB Fear Barometer
% Showing Optimism: 40%
Bearish for Stocks
Smart Money / Dumb Money Confidence Spread
Equity Hedging Index
NYSE High/Low Ratio
Short-term Optimism Index (Optix)
Insider Buy/Sell Seasonally Adj
Rydex Ratio
Rydex Money Market %
Smart Money Confidence
ISE Equity Call/Put Ratio
% Showing Excess Optimism
VIX
VIX Term Structure
ISE Call/Put Ratio
Dumb Money Confidence
SKEW Index
Options Speculation Index
LOBO Put/Call Ratio
NAAIM Exposure Index
Retail Money Market Ratio
AAII Allocation - Stocks
NYSE Available Cash
Equity / Money Market Asset Ratio
Mutual Fund Cash Level

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Optimism Index Thumbnails

Sector ETF's - 10-Day Moving Average
Country ETF's - 10-Day Moving Average
Bond ETF's - 10-Day Moving Average
Currency ETF's - 5-Day Moving Average
Commodity ETF's - 5-Day Moving Average
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