Hickey and Walters (Bespoke) submit: Below we highlight the trading areas and historical p/e ratios of the ten major sectors of the S&P 500. The trading area is represented as two standard deviations above and below the sector's 50-day moving average.
Most sectors continue to trade near overbought levels, although Utilities have come in a little bit lately. Also noteworthy are the sectors whose p/e ratios have not risen along with price. Financials, Materials, and both Consumer sectors currently have positive divergences between price and p/e.
Have a great Memorial Day weekend!