Last Updated: Feb. 12, 2026 at 1:22 p.m. ET
First Published: Feb. 12, 2026 at 8:05 a.m. ET
The bull market has not yet reached its top, according to an analysis of the S&P 500 SPX sectors’ relative strength. But there are dark clouds on the horizon.
We can draw these conclusions because of the tendency for certain sectors to perform well at the end of a bull market and others to perform poorly. To derive clues about where we stand at any given time, we need to compare this historical tendency to where the sectors stand currently.
