FYI: Just 32.2% of stocks in the S&P 500 are currently above their 50-day moving averages. Below is a look at breadth levels for the ten S&P 500 sectors. As shown, three sectors stand out as having very positive breadth, while the remaining seven sectors are weak relative to the index as a whole. Utilities -- the most defensive sector there is -- has a breadth reading of 83.3%. Consumer Staples -- another defensive -- has a reading of 65%. Behind Consumer Staples is Health Care with 64.2% of its stocks above their 50-days.
On the downside, Energy continues to get beaten down. Just 2% of S&P 500 Energy stocks are above their 50-days. Just 19.7% of Technology stocks remain above their 50-days, which isn't a good sign given that the sector makes up 20% of the market.
Regards,
Ted
http://www.bespokeinvest.com/thinkbig/2014/10/9/sp-500-sector-breadth-levels.html?printerFriendly=true
