FYI: As of this morning, 59.4% of stocks in the S&P 500 were trading above their 50-day moving averages. When we break up this reading by sector, you can see below that three sectors are dragging down the index severely, while the remaining seven have very healthy breadth readings. Just 13.8% of stocks in the Utilities sector are trading above their 50-day moving averages, while just 15% of Energy stocks are above their 50-days. In the Consumer Discretionary sector, 47.7% of stocks are above their 50-days. This weakness in Energy and Consumer Discretionary is ironic given that the consumer stands to benefit from lower energy prices.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/sector-breadth-levels-strong-outside-of-energy-consumer-discretionary/
