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Daily Report : A wrenching switch in defensive sectors' relative returns

Jason Goepfert
2025-01-29
Tumult and confusion in the leading area of the market triggered massive shifts among sectors in recent days. After long bouts of underperformance, consumer staples, health care, and even just the average S&P 500 stock enjoyed historic outperformance. These sudden shifts tended to occur around important inflection points.
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Headlines

A wrenching switch in defensive sectors' relative returns: Tumult and confusion in the leading area of the market triggered massive shifts among sectors in recent days. After long bouts of underperformance, consumer staples, health care, and even just the average S&P 500 stock enjoyed historic outperformance. These sudden shifts tended to occur around important inflection points.

Smart / Dumb Money Confidence

Smart Money Confidence: 30% Dumb Money Confidence: 63%

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Stocks Short-Term

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Agriculture

Research

A wrenching switch in defensive sectors' relative returns

By Jason Goepfert

BOTTOM LINE
Tumult and confusion in the leading area of the market triggered massive shifts among sectors in recent days. After long bouts of underperformance, consumer staples, health care, and even just the average S&P 500 stock enjoyed historic outperformance. These sudden shifts tended to occur around important inflection points.

FORECAST / TIMEFRAME
None

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Indicators at Extremes

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% Showing Pessimism: 5%
Bullish for Stocks
OEX Put/Call Ratio
Mutual Fund Flow (no ETFs)
CSFB Fear Barometer
% Showing Optimism: 42%
Bearish for Stocks
Smart Money / Dumb Money Confidence Spread
ISE Equity Call/Put Ratio
NYSE High/Low Ratio
Short-term Optimism Index (Optix)
Rydex Bearish Flow
Rydex Ratio
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Smart Money Confidence
S&P 500 Down Pressure
ISE Call/Put Ratio
% Showing Excess Pessimism
% Showing Excess Optimism
Dumb Money Confidence
SKEW Index
Retail Money Market Ratio
Equity Hedging Index
Options Speculation Index
LOBO Put/Call Ratio
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AAII Allocation - Stocks
NYSE Available Cash
Equity / Money Market Asset Ratio
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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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