As of the close yesterday, 85% of stocks in the S&P 500 were trading above their 50-day moving averages. As shown in the chart below, 85% is high but it's not quite as high as the levels we saw in April and May. Consumer Discretionary has had a huge reversal from one of the weakest sectors to having 94% of its stocks above their 50-days. Financials are only at 72%, which is still well below the highs it saw in April and May. And Energy has gotten a nice bounce from 0% to 83% in a couple of weeks. We've seen quite a turnaround in just 10 trading days, and these charts highlight the turnaround well.