Bespoke's U.S. Sector Snapshot (4/25/08)

Below we highlight our trading range charts of the S&P 500 and its ten sectors. The red area represents between one and two standard deviations above the sector's 50-day moving average. When the price moves into or above the red zone, it is considered overbought.

After suffering through a nasty downtrend where the price rarely made it out of oversold territory, the S&P 500 and most sectors are now overbought. Technology, Energy, Materials and Utilities are the most overbought, while Financials, Consumer Discretionary, Consumer Staples and Health Care are the least overbought. Energy and Materials have pulled back in recent days, but still have a ways to go before they get back into the neutral zone.

Comments

[Maniac inMotion]

Energy stocks are moving directly in line with energy prices, and will only pull back once oil prices do. They are hardly following underlying fundamentals, but why would I complain.

I also think a Fed rate hold will reduce commodities prices, which will bring materials back in line.