FYI: Below is a look at the percentage of stocks in the S&P 500 trading above their 50-day moving averages by day over the last year. At the moment, 62% of companies in the index are above their 50-days. This is a relatively weak reading given that the index is right at all-time highs, but it’s not surprising given the failure of the index to experience a meaningful breakout higher this year.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/tightening-breadth/Still Waiting For a New High in Breadth:
Even though the S&P 500 has closed at an all-time high three times in the last week, investors are still waiting for breadth, as measured by the cumulative A/D line, to confirm the new high.
https://www.bespokepremium.com/think-big-blog/still-waiting-for-a-new-high-in-breadth/
