Just 24% of S&P 500 Stocks Are Above Their 50-Day Moving Averages

After resting above 75% for most of the past three months, the percentage of stocks above their 50-day moving averages in the S&P 500 has tanked to just 24%. There are currently zero stocks in the Energy and Telecom sectors that are trading above their 50-days. Industrials are the third worst at 3%, followed by Financials at 6% and Materials at 7%. Utilities, Consumer Staples, and Health Care are all above 60%, so there has been quite a bit of rotation during this market pullback. The last time the overall numbers were this weak, all sectors were down in the dumps.

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Comments

[Steve in TN:]

Interesting. I guess from the charts investors should only be buying health care, utilities, and consumer staples. These are the sectors with positive relative strength.

Jul 08 03:41 PM