S&P 500 Sector Breadth
Thursday, March 11, 2010 at 03:01PM The percentage of stocks in the S&P 500 currently trading above their 50-day moving averages stands at 78%. As shown in the chart below, this is getting up to the top end of the range the indicator has seen during the bull market. It still has a little bit farther to go before it reaches extreme overbought territory.
On a sector basis, Financials currently has the highest reading at 94%. This level is at the top of its range over the last year, and it's the most overbought of any sector. Consumer Discretionary has the second highest reading at 89%, followed by Materials and Industrials which both stand at 81%. Telecom and Utilities -- two sectors that have been severly lagging recently -- have the lowest readings at 56% and 51% respectively. To track this sector breadth indicator on a regular basis, subscribe to Bespoke Premium and view our weekly Sector Snapshot.
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