- The Big Picture - http://www.ritholtz.com/blog -
Posted By Barry Ritholtz On October 25, 2006 @ 10:30 am In Investing,Markets,Technical Analysis | Comments Disabled
Mike Panzner  points out that the bull has become two-horned , as laggards become leaders in recent days. Once the S&P 500 reached a new multi-year closing high of 1326.57 on 9/26 (beating the prior peak of 1325.76 that was reached on 5/5), the sector laggards began to play catch-up.
S&P500 Sector Performance
past month versus prior 3
Source: Michael Panzner, Collins Stewart 
One theory: fund managers who had sat out the first phase of the bull
run scrambled to invest in stocks and sectors that had trailed behind,
in an effort to keep up.
This chart shows how the pre-9/26 sectors have fared, and how the markets have run since then:
||6/13 – 9/25||
||9/25 – 10/24||
Interesting stuff. Thanks, Mike.
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2006/10/two-horned-bull/
URLs in this post:
 Mike Panzner: http://www.amazon.com/exec/obidos/ASIN/032124785X/ref=ase_thebigpictu09-20/102-4529470-0078540
 Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/twohornedbull.jpg
Copyright © 2008 The Big Picture. All rights reserved.