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Investing Update: Is This Peak Bullishness?

Investing Update: Is This Peak Bullishness?

What I'm buying, selling & watching

Eric Soda
Jul 26, 2025
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Investing Update: Is This Peak Bullishness?
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What a week! In the 5 trading days this week, there were 5 all-time highs for the S&P 500. Each day set a new record.

The Nasdaq also finished the week at fresh all-time highs.

YTD the S&P 500 now sits up 8.6%, the Nasdaq is up 9.3% and the Dow up 5.5%.


Market Recap


Weekly Heat Map Of Stocks


This now makes 14 all-time highs in 2025 for the S&P 500.

Source: Charlie Bilello

Now I think maybe the biggest news of the week came from the equal-weighted S&P 500. It made the first new all-time high of the year.

Why is this so important? We’ve continued to hear how this market is being led by only a handful of stocks. The breadth wasn’t strong enough. It wasn’t a sustainable bull market.

The equal weight now at an all-time high debunks all of that. The broadening has occurred and now it isn’t just the leaders that are leading. You have a broadened bull market. That’s about the best market-wide momentum you will find.

Source: Warren Pies

62% of S&P 500 stocks are above the 200-day. That’s a new high for 2025.

Source: Barchart

85% of Nasdaq 100 stocks are trading above their 100-Day moving average. That’s the most since February 2024.

Source: Barchart

The S&P 500 now has gone 22 consecutive trading days without making a 1% move in either direction. It’s now the longest streak since October 2024.

Source: Grant Hawkridge

This is what you see when you have low periods of volatility. It has been a steady march higher and with that you don’t see the whipsawing of over 1%+ moves.

Do you remember April? Those large moves in both directions happened multiple times a week. That was a different market. Times have changed.

We’ve seen an orderly march higher. It looks like that march higher will continue.


A New Sector Joins The Bull Market Party

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