As we noted in our earlier post, 71% of the stocks in the S&P 500 are currently trading above their 50-day moving averages.
Below we highlight the percentages for the ten S&P 500 sectors as well. As shown, the Energy sector currently has the strongest reading at 86%. Utilities (82%) and Industrials (80%) are the only other sectors with more than 80% of stocks above their 50-days. Materials and both consumer sectors have readings in the 70s, while Financials, Technology, and Health Care are all in the 60s (and weaker than the S&P 500 as a whole). The Telecom sector has the weakest breadth reading with just 50% of its stocks above their 50-days, but keep in mind that there are only 8 stocks in the entire sector.
click to enlarge