FYI: A few weeks ago, that 10% correction everyone has been looking for was within an arm's length. After a huge v-shaped bounce back, the S&P 500 is now just 1.72% from making another all-time high. Below is a look at where the ten S&P 500 sectors stand in relation to their 52-week highs. As shown, Energy remains the farthest away at 13.96%, followed by Materials and Telecom at just over 7%. The four big cyclical sectors (Consumer Discretionary, Financials, Industrials, Technology) are all between 2-3% away from 52-week highs, while three sectors (Utilities, Consumer Staples, Health Care) actually made 52-week highs earlier today.
Regards,
Ted
http://www.bespokeinvest.com/thinkbig/2014/10/29/sp-500-172-from-a-new-all-time-high.html?printerFriendly=true
