Is the S&P 500 stretched?
Markets that run far above their trend tend to pause or pull back before going further, and markets far below it are often closer to a low than they feel. How far the index sits from its averages is a quick read on how much good news is already in prices.
Updated Oct 9, 2026
Normal
The S&P 500 is 7.7% above its 200-day average, more stretched than on 58% of days in the last five years, with an RSI of 60. The last 5% pullback ended 185 days ago and the last 10% correction 529 days ago.
Over time
Select any measure, index or sector. Score compares today with the last five years; Value is the reading itself.
Indexes and sectors
Each fund’s distance from its 200-day average, scored against its own last five years. Select a column to sort.
| Fund | Stretch | vs 200-day | RSI | From high | vs 200-day, past year |
|---|---|---|---|---|---|
| Technology XLK | 90Stretched | +19.5% | 61 | −1.6% | |
| Health care XLV | 89Stretched | +8.8% | 57 | −2.8% | |
| Energy XLE | 77Extended | +14.1% | 62 | −1.3% | |
| Nasdaq-100 QQQ | 71Extended | +11.8% | 61 | −1.1% | |
| Semiconductors SMH | 64Extended | +19.2% | 53 | −9.8% | |
| S&P 500 SPY | 58Normal | +7.7% | 60 | −0.1% | |
| S&P 500 equal weight RSP | 45Normal | +3.3% | 51 | −4.4% | |
| Small caps IWM | 40Normal | +0.7% | 38 | −8.6% | |
| Financials XLF | 39Normal | +1.9% | 46 | −6.5% | |
| Mid caps IJH | 35Normal | +1.1% | 48 | −6.7% | |
| Consumer staples XLP | 30Normal | −0.5% | 55 | −7.3% | |
| Communications XLC | 26Normal | −2.9% | 45 | −8.1% | |
| Consumer discretionary XLY | 26Normal | −2.8% | 55 | −9.4% | |
| Real estate XLRE | 25Normal | −3.7% | 44 | −9.6% | |
| Materials XLB | 21Washed out | −2.6% | 43 | −7.9% | |
| Industrials XLI | 16Washed out | −2.0% | 44 | −9.3% | |
| Utilities XLU | 7Washed out | −6.6% | 53 | −13.2% |
How to read this page
How it’s measured. The S&P 500’s distance from its 50- and 200-day moving averages and its 14-day RSI, each scored against the last five years. The overall score averages the three; 100 is the most stretched.
Sources. Daily prices from Financial Modeling Prep.
RSI compares the size of recent up days with recent down days on a 0 to 100 scale; readings above 70 are conventionally called overbought and below 30 oversold.
Stretched markets can stay stretched for months in a strong trend. These readings describe how far prices have run, not when they will turn.
This page is information, not investment advice. About our data and methods ›