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Bob Carey
Chief Market Strategist
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  The S&P 500 Index Just Set Another All-Time Closing High
Posted Under: Broader Stock Market
Supporting Image for Blog Post

View from the Observation Deck
  1. In today's post, we show the percentage of stocks in a number of major Standard & Poor's (S&P) stock indices that are trading above their respective 100-Day moving averages.
  2. Moving averages tend to smooth out day-to-day price fluctuations and can be a useful tool for traders/investors to identify both positive trends and reversals, as well as entry or exit points, in our opinion.
  3. With many stock indices trading at or near their respective all-time highs, we believe that investors can benefit from a variety of perspectives on the market. Investors can view another we posted on 9/7/17 (click here to view)
  4. The S&P 500 Index stood at its all-time closing high (2,496.48) on 9/12/17, according to Bloomberg. The S&P Mid-Cap 400 Index stood 2.27% below its all-time closing high (1,791.93 on 7/25/17), while the S&P Small-Cap 600 Index stood 2.53% below its all-time closing high (876.06 on 7/25/17).
  5. As indicated in the chart, five of the 13 indices have 50% or fewer of their constituents trading above their respective 100-Day moving averages. Utilities stands above all at 92%.
  6. Even though the S&P 500 Index just set a new all-time high on 9/12/17, its 32nd of the year, there is still plenty of potential value in the market, in our opinion.

This chart is for illustrative purposes only and not indicative of any actual investment. The illustration excludes the effects of taxes and brokerage commissions and other expenses incurred when investing. Investors cannot invest directly in an index. The S&P 500 Index is a capitalization-weighted index comprised of 500 stocks used to measure large-cap U.S. stock market performance, while the 11 major S&P 500 Sector Indices (Real Estate was added as the 11th major sector in 2016 but data is not available for this chart) are capitalization-weighted and comprised of S&P 500 constituents representing a specific sector. The S&P Mid-Cap 400 Index is a capitalization-weighted index that tracks the mid-range sector of the U.S. stock market. The S&P Small-Cap 600 Index is a capitalization-weighted index that tracks U.S. stocks with a small market capitalization.

To Download a PDF of this post, please click here

Posted on Thursday, September 14, 2017 @ 12:51 PM • Post Link Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
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