Between July 31st and August 1st 2024 the S&P500 Utilities Sector Bullish Percent Index moved up to 96.67. There was a brief decline during the beginning of August. Then it moved up to 96.67 again between August 14, 2024 and September 3, 2024.
Previously, the Utilities Sector Bullish Index moved up to 96.55 during August and September 2022. This was followed by a sharp decline in the Utilities Industry Group Index
The current bullish reading of 96.67 indicates the Utilities Industry Group Index is overvalued.
Note that this information is for educational purposes only and not a recommendation.
Charts courtesy of StockCharts.com.
