Back To Neutral

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 |  Includes: IVV, IYC, IYE, IYF, IYH, IYJ, IYK, IYM, IYW, IYZ, SPY, VOO, VPU, XLB, XLE, XLF, XLI, XLK, XLP, XLU, XLV, XLY
by: Bespoke Investment Group

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!