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The final top of this bull market is at least three months away, according to a relative-strength analysis of the stock market’s industry sectors. The chart below tells the story.
The chart is based on calculations from Ned Davis Research of sectors’ average performance over the past three months of all bull markets since 1970. Consider the three S&P 500
SPX sectors that typically are at the bottom of late-bull-market relative-strength rankings: communication services, utilities and energy. In a ranking of relative strength over the past three months, those three sectors’ average rank is sixth out of 10 — not the bottom but the middle of the pack.
This post was originally published on Market Watch
