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Daily Report : Yet another encouraging signal for the technology sector

Jason Goepfert
2025-07-10
The proportion of technology stocks in a bear market recently completed a dramatic reversal, cycling from one of the most extreme readings in history to a bullish level. Similar recoveries saw the S&P 500 technology sector rally 100% of the time over five, six, and twelve months.
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Headlines

Yet another encouraging signal for the technology sector: The proportion of technology stocks in a bear market recently completed a dramatic reversal, cycling from one of the most extreme readings in history to a bullish level. Similar recoveries saw the S&P 500 technology sector rally 100% of the time over five, six, and twelve months.

Smart / Dumb Money Confidence

Smart Money Confidence: 29% Dumb Money Confidence: 79%

Risk Levels

Stocks Short-Term

Stocks Medium-Term

Bonds

Crude Oil

Gold

Agriculture

Research

Yet another encouraging signal for the technology sector

By Dean Christians

BOTTOM LINE
The proportion of technology stocks in a bear market recently completed a dramatic reversal, cycling from one of the most extreme readings in history to a bullish level. Similar recoveries saw the S&P 500 technology sector rally 100% of the time over five, six, and twelve months.

FORECAST / TIMEFRAME
XLK -- Up, Long-Term

Sentiment Risk On / Risk Off Overview

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Indicators at Extremes

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% Showing Pessimism: 4%
Bullish for Stocks
Mutual Fund Flow (no ETFs)
CSFB Fear Barometer
% Showing Optimism: 49%
Bearish for Stocks
VIX Term Structure
ISE Call/Put Ratio
ISE Equity Call/Put Ratio
Rydex Bearish Flow
Rydex Ratio
Rydex Money Market %
Short-term Optimism Index (Optix)
NYSE High/Low Ratio
Smart Money Confidence
Smart Money / Dumb Money Confidence Spread
S&P 500 Down Pressure
SKEW Index
% Showing Excess Pessimism
% Showing Excess Optimism
Intermediate Term Optimism Index (Optix)
Dumb Money Confidence
AIM (Advisor and Investor Model)
Retail Money Market Ratio
Equity Hedging Index
LOBO Put/Call Ratio
Options Speculation Index
Insider Buy/Sell Seasonally Adj
NAAIM Exposure Index
AAII Allocation - Stocks
Equity / Money Market Asset Ratio
Mutual Fund Cash Level
NYSE Available Cash

Phase Table

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Ranks

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Sentiment Around The World

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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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