The S&P 500 Tracking a Strong YTD Return

The S&P 500 Tracking a Strong YTD Return

$SPY, $SPX

FLASH: The S&P 500 is on track for its best YTD return in more than 20 years, the catalyst: cheap money ahead.

The broad-market benchmark is up 20.7% YTD, which would represent the richest year-to-date return for the S&P 500 SPX through July 26 since Y 1997, when it gained 26.74%, according to Dow Jones Market Data.

Information technology shares XLK have led the rally in Y 2019, up 33.2% YTD, with consumer-discretionary shares XLY +25%, and the communication-services sector XLC + 24.8% rounding out the Top 3 performing sectors among the S&P 500’s 11 so far on the year representing the best YTD return for the 123-anni blue-chip gauge since 2013 and the best for the tech-heavy NAS Comp since Y 2003.

  • NAS Comp +25.5% YTD
  • S&P 500 +20.7% YTD
  • Russell 2000 +17.1% YTD
  • DJIA+16.6% YTD

At this time last year, the S&P 500 was up just 6.1%, the DJIA was 3.3% higher and the NAS Comp boasted a 13.7% return through July 26, 2018.

The catalyst for the rally has been clear: cheap-money policies from global central banks and it does not appear that is is all priced in yet.

HeffX-LTN’s overall technical outlook for the 3 major US stock market indexes if Bullish at the week ended 27 July 2019

Have a terrific weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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