Utility stocks have seen a big internal surge
-
Jason Goepfert
Published: 2020-10-08 at 09:00:00 CDT
The past few days have seen U.S. stocks chop up and down. One of the few exceptions has been the utilities sector, which on a total return basis reached the highest level since the March crash.
As a result, the percentage of stocks in this sector above their 50-day moving averages surged from less than 15% to greater than 78% within 2 weeks.
We've seen repeatedly in the past that a staid sector like utilities does not tend to do well in the short-term after big bouts of positive momentum. There are some signs of that here, and shorter-term returns have been mostly weak as noted above. Longer-term, however, the bias was solidly higher.
This is an abridged version of our recent reports and notes. For immediate access with no obligation, sign up for a 30-day free trial now.
We also looked at:
- More detail on the internal strength in utilities
- Despite the gains, ETF traders are pulling money from funds like XLU
- Corporate insiders have been very busy in utility stocks
Related Posts:
- Market Breadth Composite Rank Update
- Weekly Wrap for Jul 30 - Lagging Russell and Financials, Commodity Concerns
- Weekly Wrap for Jul 23 - Risk Off Then Reversal, No Recession, Surging Coffee
- A Buy Signal That Has Never Failed
- A Reversal Signal With a Perfect Record
Tagged As:
The post titled Utility stocks have seen a big internal surge was originally published as on SentimenTrader.com on 2020-10-08.
At SentimenTrader.com, our service is not focused on market timing per se, but rather risk management. That may be a distinction without a difference, but it's how we approach the markets. We study signs that suggest it is time to raise or lower market exposure as a function of risk relative to probable reward. It is all about risk-adjusted expectations given existing evidence. Learn more about our service , research, models and indicators.
Follow us on Twitter for up to the minute analysis of market action.
Follow @sentimentraderNot ready to signup up for a free trial yet?
Signup for our Daily Lite email to receive highlights of our daily report, research and studies.
Follow us on Twitter:
Follow @sentimentraderSubscribe to our Youtube Channel:
RSS Feed
Subscribe to the Blog RSS feedTags
Recent Blog Posts
Brought to you by:
>