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Below are updated charts highlighting the percentage of stocks in the S&P 500 and its ten sectors that are trading above their 50-day moving averages.

After peaking out near 80%, the current reading for the entire S&P 500 stands at 78%. This is a healthy breadth number, but it's not quite at overbought levels that suggest an imminent pullback.

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While cyclicals led during the early part of the current rally, we've seen the defensives play catch up more recently. Consumer Staples, Utilities and Telecom all had single-digit readings just a couple of weeks ago, but now they're all at 50% or higher. The Consumer Staples and Utilities sectors have actually both moved back up to 80%+.

Technology now has the highest reading of any sector at 86%. So while Apple (NASDAQ:AAPL) has held the sector down in terms of price, the majority of Tech stocks have been doing very well. Financials has the second highest breadth reading at 83%, followed by Industrials at 82%.

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Source: Breadth Check-Up