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Daily Report : Utilities are on a historic momentum streak

Jason Goepfert
2024-09-09
Utility stocks have been on a tear, with most of the indexes holding above their 10-day moving averages for a remarkably long time. Breadth among utilities has been broadly positive, with many hitting new highs and overbought conditions. The sector has had great difficulty holding upside momentum in the past.
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Headlines

Utilities are on a historic momentum streak: Utility stocks have been on a tear, with most of the indexes holding above their 10-day moving averages for a remarkably long time. Breadth among utilities has been broadly positive, with many hitting new highs and overbought conditions. The sector has had great difficulty holding upside momentum in the past.

Smart / Dumb Money Confidence

Smart Money Confidence: 54% Dumb Money Confidence: 60%

Risk Levels

Stocks Short-Term

Stocks Medium-Term

Bonds

Crude Oil

Gold

Agriculture

Research

Utilities are on a historic momentum streak

By Jason Goepfert

BOTTOM LINE
Utility stocks have been on a tear, with most of the indexes holding above their 10-day moving averages for a remarkably long time. Breadth among utilities has been broadly positive, with many hitting new highs and overbought conditions. The sector has had great difficulty holding upside momentum in the past.

FORECAST / TIMEFRAME
None

Sentiment Risk On / Risk Off Overview

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Indicators at Extremes

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% Showing Pessimism: 14%
Bullish for Stocks
Inverse ETF Volume
Risk Appetite Index
Rydex Sector Breadth
Equity Put/Call Ratio
OEX Put/Call Ratio
OEX Open Interest Ratio
Mutual Fund Flow (no ETFs)
CSFB Fear Barometer
% Showing Optimism: 28%
Bearish for Stocks
NYSE Up Volume Ratio
S&P 500 Down Pressure
Dumb Money Confidence
Rydex Bearish Flow
Options Speculation Index
Rydex Ratio
Rydex Money Market %
SKEW Index
NAAIM Exposure Index
AAII Bull Ratio
AIM (Advisor and Investor Model)
Retail Money Market Ratio
AAII Allocation - Stocks
Equity / Money Market Asset Ratio
Mutual Fund Cash Level
NYSE Available Cash

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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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