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home / news releases / XLK - S&P 500 Starts To Look Overvalued


XLK - S&P 500 Starts To Look Overvalued

The S&P 500 (SPY) has just had its best week in 43 years, propelled higher by more speculative small cap (VB) and higher-beta (SPHB) stocks. Some have even been calling the 22% run off the March 23 lows "a bull market" - arguably a meaningless label, considering the record-setting, peak-to-trough decline of more than 30% earlier this year.

Instinctively, I remain skeptical that the recent rally in the equities market will carry us towards new highs soon. My doubts are further reinforced by what I see in the data

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Stock Information

Company Name: SPDR Select Sector Fund - Technology
Stock Symbol: XLK
Market: NYSE

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