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Wednesday
Jul082009

Just 24% of S&P 500 Stocks Are Above Their 50-Day Moving Averages

DateWednesday, July 8, 2009 at 10:01AM

After resting above 75% for most of the past three months, the percentage of stocks above their 50-day moving averages in the S&P 500 has tanked to just 24%.  There are currently zero stocks in the Energy and Telecom sectors that are trading above their 50-days.  Industrials are the third worst at 3%, followed by Financials at 6% and Materials at 7%.  Utilities, Consumer Staples, and Health Care are all above 60%, so there has been quite a bit of rotation during this market pullback.  The last time the overall numbers were this weak, all sectors were down in the dumps.


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