New 52-Week Highs By Sector: 2/27/14

 |  Includes: DIA, IWM, QQQ, SPY, SRE
by: Bespoke Investment Group

While the S&P 500 finally closed at a new all-time high yesterday, the percentage of stocks hitting new 52-week highs was a lackluster 6%. The table below lists 52-week highs in the S&P 500 by sector for 2/27/14. The Materials sector was yesterday's real star in this respect as eight, or more than one in four, stocks in the sector hit a new one-year high. Behind Materials, a little over 10% of stocks in the Technology sector managed to trade at a new high while just under 10% of stocks in the Health Care sector hit new highs. On the weak side of things, in the Energy, Financials, and Telecom Services sectors, there were no stocks that managed to trade to a new 52-week high. The fact that no stocks in these sectors hit new highs is even more pitiful when you consider that even the Utilities sector, which is considered the most defensive sector of the market, managed to eke out one new high (Sempra Energy-SRE). Hopefully, for the bulls, the number of stocks hitting new highs will start expanding in a meaningful way.

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