Seeking Alpha
Registered investment advisor, macro, ETF investing
Profile| Send Message| ()  

Today's sharp rally for the S&P 500 has pushed it back above oversold territory for the first time since election day on November 6th.

As shown below, last week at this time, the S&P 500 and all ten sectors were oversold. Now just one sector remains oversold -- Utilities. A big push into the close today even moved two sectors -- Consumer Discretionary and Consumer Staples -- back above their 50-day moving averages (the black vertical line). Talk about a Thanksgiving rally!

Source: Back To Neutral