Percentage of Stocks Above 50-Day Moving Averages

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Includes: IVV, IYZ, SPY, XLB, XLE, XLF, XLI, XLK, XLP, XLU, XLV, XLY
by: Bespoke Investment Group

There are currently 435 stocks in the S&P 500 trading above their 50-day moving averages (87%). While this is a high number indicating broad market breadth, it still hasn't reached the high seen during the spring rally when it got all the way up to 92%. During that rally, the percentage of stocks above their 50-days remained around 85% to 90% for a couple of months. We've just gotten back up to 87% in the last few days, so the bulls are hoping for another round of internal strength.

The Financials have roared all the way back into first place based on this breadth indicator with a reading of 96%. Many investors had given up on the sector after it jumped out of the gate so fast and then stalled. Over the last couple of weeks, the Financials have definitely caught a second wind. Consumer Discretionary has also come back quite a bit, and it ranks second with a reading of 93%. The rest of the sectors are in the 80s except for Telecom, which is at 56%.

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