S&P 500 and Sector Breadth
Wednesday, August 31, 2011 at 12:24PM The S&P 500 has had a very nice run over the past week or so, but as shown below, underlying breadth remains pretty weak. At the moment, 30% of S&P 500 stocks are trading above their 50-day moving averages, so while the index has rallied nearly 8% over the past 10 trading days, it still has plenty of work to do.
The Utilities sector currently has the strongest breadth with 85% of its stocks trading above their 50-days. The Consumer Discretionary and Consumer Staples sectors have the 2nd and 3rd highest readings at 41% and 46%, respectively. The Materials sector has the weakest reading at just 13%, while Technology, Industrials and Energy are all in the teens as well. In the Financial sector, 21% of stocks are now trading above their 50-days.
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