Percentage of Stocks Above 50-Day Moving Averages

Recent declines have caused the percentage of S&P 500 stocks trading above their 50-day moving averages to drop below 50%.  A look at the reading for sectors gives investors a glimpse into what's been holding up and getting hit the hardest during the pullback.  While 49% of stocks in the entire S&P 500 are now above their 50-days, two-thirds of Industrial, Telecom, and Consumer Discretionary stocks remain above their 50-days.  Energy and Materials have the lowest readings at 28% and 29%, respectively, while Consumer Staples is at 46%, Technology is at 40%, and Health Care is at 33%.  The Financial sector is just a bit above the overall reading at 51%.