FYI: Below is data taken from this week’s Sector Snapshot published today showing the percentage of stocks in each sector trading above their 50-day moving averages. For the entire S&P 500, this reading has moved back above 50% — up to 54.6% today. That’s a healthy reading that we haven’t seen yet in 2016.
Six of ten sectors have readings even stronger than the 54.6% mark for the broad S&P 500. Utilities ranks at the top at 100%, followed by Consumer Staples and Telecom, but then you get to Industrials, Materials and Consumer Discretionary. Those last three are all cyclical in nature, and they’ve been market leaders over the last couple of weeks
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/sector-breadth-bouncing-back/
