Seeking Alpha
Registered investment advisor, macro, ETF investing
Profile| Send Message|
( followers)  

Heading into the open this morning, 87% of stocks in the S&P 500 were trading above their 50-day moving averages. Below are charts showing the percentage of stocks trading above their 50-days within each S&P 500 sector. As shown, breadth readings have pulled back slightly over the past two weeks, with no sectors currently showing readings above 90%. At the market's recent peak, multiple sectors had readings in the mid to high 90s.

Consumer Staples, Materials and Utilities currently have the highest percentage of stocks above their 50-days at 90%. Technology, Financials and Industrials had the strongest breadth a couple weeks ago, but they've all pulled back into the 80s this week. Even in the 80s, though, breadth is elevated.

(click to enlarge)

(click to enlarge)

(click to enlarge)

Source: S&P 500 Sector % Of Stocks Above 50-Day Moving Averages