Percentage of Stocks Above 50-Day Moving Averages

Another down day in the market has sent the percentage of stocks above their 50-day moving averages in the S&P 500 back below 50%. Currently, 45% of stocks are above their 50-days. The worst sector by far is Energy. Just 8% of Energy stocks are above their 50-days, even as oil has been strong for the past few months. Industrials is the second worst at 22%, followed by Consumer Discretionary, Telecom, and Materials. Technology, Consumer Staples, Health Care, and Utilities are the four sectors that still have a reading above 50%.

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Comments

[Shale Gas:]

Energy was due for a correction.

Jul 03 08:12 AM