Market Breadth

While the S&P 500 is basically trading right near its lows from April, the percentage of stocks in the index trading above their 50-day moving averages is a bit higher than it was then.  As shown below, 40% of stocks in the S&P 500 are currently above their 50-days.  In April, this reading got down to 30%.

So which sectors have been keeping overall breadth a bit higher?  Financials, Health Care, Utilities, Consumer Discretionary and Consumer Staples.  Each of these sectors have a higher percentage of stocks above their 50-days than the entire index.  On the negative side, Energy continues to be the weakest link with just 11% of stocks above their 50-days, but Technology is starting to really struggle as well at 20%.