S&P 500 Sector Breadth
Monday, December 5, 2011 at 08:09PM After last week's and today's rally, 81% of the stocks in the S&P 500 are back above their 50-day moving averages. While the index is having trouble breaking above its 200-day, underlying breadth has not been an issue. Both big rallies since the start of October have now seen much larger than normal stock participation, which is something the bulls can hang their hats on.
Energy currently has the strongest breadth of the ten S&P 500 sectors with a whopping 95% of its stocks trading above their 50-days! The Financial sector is actually very strong as well with a reading of 84%. Industrials, Materials and Utilities are the other three sectors with readings in the 80s. The two consumer sectors, Technology, Health Care and Telecom all have readings that are weaker than the overall S&P 500. Health Care and Telecom have the weakest breadth readings at 69% and 63% respectively.
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