Percentages of Stocks Above 50-Day Moving Averages

Below we highlight our charts that show the percentage of stocks trading above their 50-day moving averages for the S&P 500 and its ten sectors. As shown, 87% of stocks in the S&P 500 are currently above their 50-days, which is the highest reading over the last year. Financials, Industrials, Technology, Consumer Discretionary, and Materials are also at their highest readings over the last year. Energy, Consumer Staples, Utilities, and Health Care are the sectors (all defensive) that have yet to take out their one-year highs. These high breadth readings are positive for the longer-term outlook of the rally, but they also indicate overbought conditions in the short term.

Comments

[nukldrager:]

Maybe FAZ will rebound soon. Where is the list of inverse ETFs for these sectors?

Apr 18 09:19 AM

[nukldrager:]

Found it.

Apr 19 10:35 AM