S&P 500 Sector Breadth Check-Up
Tuesday, October 16, 2012 at 07:18PM The S&P 500 continued its bounce off of its 50-day moving average today, which picked up underlying breadth quite a bit as well. As things stand now, just over two-thirds (68%) of the stocks in the S&P 500 are currently above their 50-days.
Materials and Energy are the two sectors that have seen the biggest increases in breadth over the past two days. The Energy sector now has 74% of its stocks above their 50-days, while the Materials sector is even stronger with a reading of 84%. Health Care has the second highest reading at 83%. Unfortunately, the biggest sector in the market -- Technology -- still has the lowest reading of them all at 40%.
Looking for new stock ideas? Each week we publish "the Bespoke 50," a list of our favorite growth stocks in the Russell 3,000. To make the list of 50, a stock must have strong earnings growth prospects along with an attractive price chart based on Bespoke's proprietary fundamental and technical analysis.
The "Bespoke 50" is released on a weekly basis, and in it you'll find the 50 stocks that made the cut, price charts for each of them, and an Excel file that you can download as well.
If you're interested in finding the 50 growth stocks that Bespoke finds most attractive, become a Bespoke Premium member today. Please click here to subscribe.
