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Daily Report : Energy and utilities at opposite ends of breadth panic

Jason Goepfert
2024-09-11
Energy and utility stocks are at opposite ends of the panic spectrum. The former has seen enough selling pressure to be at least at semi-panic levels, while utility stocks have seen "anti-panic." After other periods with such a wide divergence in internal selling pressure, we typically saw some mean reversion.
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Headlines

Energy and utilities at opposite ends of breadth panic: Energy and utility stocks are at opposite ends of the panic spectrum. The former has seen enough selling pressure to be at least at semi-panic levels, while utility stocks have seen "anti-panic." After other periods with such a wide divergence in internal selling pressure, we typically saw some mean reversion.

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Research

Energy and utilities at opposite ends of breadth panic

By Jason Goepfert

BOTTOM LINE
Energy and utility stocks are at opposite ends of the panic spectrum. The former has seen enough selling pressure to be at least at semi-panic levels, while utility stocks have seen "anti-panic." After other periods with such a wide divergence in internal selling pressure, we typically saw some mean reversion.

FORECAST / TIMEFRAME
None

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% Showing Pessimism: 12%
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Inverse ETF Volume
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% Showing Optimism: 32%
Bearish for Stocks
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