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Industrials Take the Lead

Below is an updated look at our trading range table for the S&P 500 and its ten sectors.  The black vertical neutral line (N) represents each sector's 50-day moving average, and as shown, the S&P 500 and five of ten sectors are now back above their 50-days.  The Industrials sector stands out the most in the table, as it's the only sector that has moved into overbought territory over the last week.  Energy, Technology, Materials, Telecom and Utilities have been the laggards.

With 2013 quickly approaching, below we highlight the current 2013 year-end S&P 500 price targets of Wall Street strategists.  As shown, just one firm -- Wells Fargo -- has a 2013 year-end price target that is lower than where the S&P 500 is currently trading.  Citigroup, Bank of America, Oppenheimer, Bank of Montreal and Goldman Sachs all have price targets of 1,575 or higher, which equates to a double digit percentage change in 2013.  The average price target stands at 1,526, which would be a gain of 7.57% from here.

Later this month, Bespoke Investment Group will be releasing its 2013 market outlook piece -- the Bespoke Report.  This will be our 6th annual Bespoke Report since we opened our doors for business in 2007.  Over the last few years, the Bespoke Report has become a must-read publication on Wall Street as money managers, investors and traders prepare for the year ahead.  No asset class or investment trend goes uncovered.

To receive the 2013 Bespoke Report, all you have to do is sign up for one of our subscription services over at Bespoke Premium.  You don't want to miss out on this one!