Every Thursday we send Bespoke Premium and Bespoke Institutional members our Sector Snapshots report, which provides in-depth coverage of market internals for the ten S&P 500 sectors. Below is one chart from this week’s report of the trading range for the S&P 500. While it may not seem like it, the index actually traded to its most overbought level of the last year today by moving to more than two standard deviations above its 50-day moving average.
And in case you missed it, two of the ten main S&P sectors (Technology and Consumer Discretionary) actually traded to new bull market highs today, clearing the way for another leg higher.
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