Percentage of Stocks Above Their 50-Day Moving Averages

In the S&P 500, 36% of stocks are currently trading above their 50-day moving averages.  A healthy market typically has more than 50% of stocks above their 50-days, so current levels are definitely weak.  But they can no doubt get weaker.  Back in August 2007 and this January, the percentage dropped to single digits.

On a sector basis, Financials are the weakest at 16%, followed by Consumer Discretionary and Consumer Staples.  Energy has the most positive breadth with 78% of stocks above their 50-day moving averages.  Utilities rank second at 68%, and Technology ranks third down at 49%.

Comments

[Alan Brochstein]

After yesterday, it is now 29%. I find it interesting, though, how much better smaller stocks are doing. In the S&P 600, the number is 47%.

[jlounsbury59]

Small and mid-cap stocks historically tend to do somewhat better going into market (and business cycle) bottoms, and much better coming off bottoms. Large caps tend to outperform later in the cycle as we near tops.

Appreciate the fine research numbers - thanks.