Percentage of Stocks Above 50-Day Moving Averages

From our weekly Sector Snapshot report at Bespoke Premium, below we highlight the percentage of stocks above their 50-day moving averages in the S&P 500 and its ten sectors.  As shown, 77% of the stocks in the S&P 500 remain above their 50-days, which is still a high breadth reading compared to levels over the past year.  The ability for this indicator to remain above 50% will be a good measure of the sustainability of the current rally.

The Energy sector has the highest percentage of stocks above their 50-days at 97%.  The next best sector is Materials at 86%, followed by Health Care at 85%.  Telecom (56%) and Consumer Discretionary (59%) currently have the weakest breadth readings.