FYI: As of this afternoon, 61% of stocks in the S&P 500 are trading above their 50-day moving averages. Readings over 50% mean breadth is positive, and right now nine of ten sectors are above this level.
Interestingly, the one sector now without a reading over 50% is Utilities, which has been a market darling over the last year. After the sector's recent pullback, just 13% of Utilities stocks are above their 50-days. Taking its place on the positive side are Materials and Energy. Right now 83% of Materials stocks and 72% of Energy stocks are above their 50-days. While Energy stocks are still mostly in downtrends, their 50-days have finally caught up, setting up a base-building scenario.
Regards,
Ted
http://www.bespokeinvest.com/thinkbig/2015/2/11/energy-and-utilities-swap-places.html?printerFriendly=true
