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Wednesday
Aug282013

Percentage of Stocks Above 50-Day Moving Averages

Yesterday's market plunge left the S&P 500 well below its 50-day moving average.  As shown below, the percentage of stocks in the index trading above their 50-days took a big hit as well.  As of this morning, 33% of the stocks in the S&P are trading above their 50-days.  This is still slightly above the low readings seen in this indicator back in November 2012 and June of this year.

The Financial sector took the biggest hit to breadth yesterday, leaving just 11% of the stocks in the sector above their 50-days.  This is the lowest reading of any sector.  Consumer Staples (15%), Utilities (16%) and Telecom (17%) are the other sectors with readings in the teens.  Only one sector -- Materials -- still has more than 50% of its stocks above their 50-days.  Technology has the second highest reading at 46%.