Stock Market Barometers

Fundamental and technical indicators of the market’s health

Key indexes vs. their 200-day moving averages: A stock index’s 200-day moving average indicates the basic trend, up or down. It is generally bullish if the index stays above the average.

S&P; 500 (blue-chip stocks), Friday: 1,163.55

200-day moving average, Friday: 1,086.08

*

Russell 2,000 index (smaller stocks), Friday: 394.29

200-day moving average, Friday: 427.02

*

Price-to-earnings ratio of Standard & Poor’s 500: 25.29*

Based on operating earnings per share, 12 months ended June 30; average since 1923: 13.5

*

Dividend yield of the Standard & Poor’s 500: 1.40%

Average dividend yield of blue-chip stocks; avg. since 1923: 4.5%

*

Weekly new highs vs. new lows on the NYSE: 192/103

Data for the week ended Friday. More highs indicate a bullish trend.

*

Investment newsletter sentiment:

Stocks’ near-term trend as predicted by 135 independent investment newsletters, weekly survey by Investors Intelligence. The data are often viewed as a contrarian indicator: A rising percentage of bulls can signal a topping market.

Nov. 13

Bullish: 53.1%

Bearish: 35.4

Correction:11.5

Friday

Bullish: 57.0%

Bearish: 31.6

Correction: 11.4

* Now calculated based on operating earnings, which exclude one-time charges--so P/E is lower than if actual earnings were used.

Source: A.G. Edwards & Sons. More information can be found at https://www.agedwards.com.