S&P 500 and Sector Breadth
Thursday, February 9, 2012 at 02:32PM Even as the major market indices charge higher, underlying breadth hasn't been expanding in recent days. As shown below, 85% of S&P 500 stocks are currently above their 50-day moving averages. This is around the same level it has been at for the past few weeks.
Four sectors have at least 90% of their stocks trading above their 50-days -- Financials (98%), Industrials (93%), Technology (90%) and Materials (90%). All four of these sectors are very cyclical in nature. Consumer Staples, Utilities and Telecom -- all defensive sectors -- currently have the weakest breadth readings, with Utilities having the lowest percentage of stocks above their 50-days at 52%.
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