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Current DateTime: 03:15:36 24 Nov 2009
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Current DateTime: 03:15:36 24 Nov 2009
LinksList Documentid: 30111251
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Will the S&P 500 Close Above 1100?
Published: Monday, 16 Nov 2009 | 12:10 PM ET
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By: Robert Hum
Markets Producer

With today’s rally, the S&P 500 [.SPX  Loading...      ()   ] is once again back above the 1,100 level. The index has hovered above that threshold intraday on five different trading sessions during the past month. However it has fought some resistance there, failing to close above that level on each of those days. In fact, the S&P has not closed above 1,100 since October 2, 2008.

Even at 1,100, the S&P would be 12% off its 1,251.70 close just prior to Lehman’s bankruptcy filing.  However, it would still be 63% above its 12.5-year closing low of 676.53 set back in March.

While the rise in financials, industrials, commodities, and techs have garnered lots of attention over the past few months, consumer discretionary stocks have also had a nice run of their own since March 9.  Highlights include:

  • Office Depot +1,069% [ODP  Loading...      ()   ]
  • Cooper Tire +542% [CTB  Loading...      ()   ]
  • Gannett +477% [GCI  Loading...      ()   ]
  • Ford +397% [F  Loading...      ()   ]
  • Whirlpool +287% [WHR  Loading...      ()   ]
  • Starwood Hotels +251% [HOT  Loading...      ()   ]
  • Nordstrom +183% [JWN  Loading...      ()   ]
  • Tiffany +153% [TIF  Loading...      ()   ]

S&P 500 Sectors Since March Bottom

  • Financials +139.9%
  • Consumer Discretionary +84.1%
  • Industrials +84.0%
  • Materials +81.7%
  • Technology +80.2%
  • Energy +43.6%
  • Consumer Staples +39.2%
  • Healthcare +38.3%
  • Utilities +32.0%
  • Telecom +21.4%

Furthermore, with the S&P 500 sitting at just over a 1-year high, six of its ten sectors (Consumer Discretionary, Consumer Staples, Healthcare, Industrials, Materials, and Techs) are hitting in their own 52-week highs, while another three (Energy, Financials, and Utilities) are not too far off their highs. Additionally, 23% of the index’s 500 components are resting at individual highs at this time.

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