Percentage of Stocks Above 50-Day Moving Averages Falls Sharply

Only 43% of stocks in the S&P 500 are trading above their 50-day moving averages at the moment, which is below the low we saw at the end of September. The percentage isn't as low as it got during the July correction, but another day like Wednesday, and it no doubt will be.

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The percentage of stocks above their 50-days in the Materials sector has fallen the most, from nearly 100% above all the way down to just 17%. Financials and Technology have taken big hits as well. Energy and Consumer Staples both still have more than 70% of stocks above their 50-days, so they've held up the best on the recent declines.

Comments

[socrateaz:]

remember today is exactly 80 years after another famous day! Maybe we will see dejavu! The day mayl be interesting anyway

Oct 29 04:27 AM