The Utilities sector has been the second best of the eleven S&P 500 sectors so far in 2024, and it’s the best performing sector so far in May.The sector has been on fire.Below is a look at eight charts from our daily Sector Snapshot.Pretty much all readings are now very extended to the upside, including P/E ratio!Below is a look at the individual stocks in the S&P 500 Utilities sector from our Trend Analyzer tool. As shown, every single stock is overbought, with the large majority in “extreme” overbought territory.With AI and other new technologies demanding so much more electricity, have investors woken up to the fact that the companies providing it stand to benefit?More By This Author:Claims Fine In Spite Of Superlatives S&P 500 Gaps 1%+ HigherBears Come Out Of Hibernation
The Year Of The Utes?
