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Daily Report : What sector drawdowns say about the S&P's record high

Jason Goepfert
2024-09-24
The S&P 500 has reached another new record high for the first time in months. The sectors leading the charge are an interesting mix. After new highs in the S&P with similar sector drawdown correlations, stocks tended to do well over the following year.
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What sector drawdowns say about the S&P's record high: The S&P 500 has reached another new record high for the first time in months. The sectors leading the charge are an interesting mix. After new highs in the S&P with similar sector drawdown correlations, stocks tended to do well over the following year.

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Research

What sector drawdowns say about the S&P's record high

By Jason Goepfert

BOTTOM LINE
The S&P 500 has reached another new record high for the first time in months. The sectors leading the charge are an interesting mix. After new highs in the S&P with similar sector drawdown correlations, stocks tended to do well over the following year.

FORECAST / TIMEFRAME
None

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% Showing Pessimism: 12%
Bullish for Stocks
Inverse ETF Volume
Rydex Bearish Flow
OEX Open Interest Ratio
OEX Put/Call Ratio
Insider Buy/Sell Seasonally Adj
Mutual Fund Flow (no ETFs)
CSFB Fear Barometer
% Showing Optimism: 37%
Bearish for Stocks
Short-term Optimism Index (Optix)
NYSE High/Low Ratio
S&P 500 Down Pressure
Dumb Money Confidence
VIX Term Structure
% Showing Excess Optimism
Intermediate Term Optimism Index (Optix)
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Rydex Ratio
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Equity Put/Call Ratio
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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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