Percentage Of Stocks Above 50-Day Moving Averages

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 |  Includes: IVV, IYC, IYE, IYF, IYH, IYJ, IYK, IYM, IYW, IYZ, SPY, VOO, VPU, XLB, XLE, XLF, XLI, XLK, XLP, XLU, XLV, XLY
by: Bespoke Investment Group

Yesterday we noted that 79.6% of the stocks in the S&P 500 were overbought. Below is another breadth measure indicating that the market is extended here as well. As shown, 90% of the stocks in the S&P 500 are currently trading above their 50-day moving averages. This is the highest reading we've seen over the last year, and it's only the sixth time we've crossed the 90% barrier since the bull market began in 2009.

Six of ten S&P 500 sectors have readings at 90% or greater as well. The Industrials sector has the highest percentage of stocks above their 50-days at 97%, followed closely by Financials at 96%. Technology, Energy, Utilities and Materials are the other four sectors with readings above 90%. Telecom and Consumer Discretionary have the lowest percentage of stocks above their 50-days at 63% and 78%, respectively.

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