A look under the hood of SPX

On March 27th S&P 500 made a new 3-yr bull market high. While one can not argue with price of the entire index, a closer look reveals that only 4 out of 10 SPX sectors (53.7% of index) surpassed their 2011 high. Furthermore, only 5 sectors (68.7% of index) were able to make their new 2012 high.

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