FYI: As shown in our sector trading range screen below, the S&P 500 has re-taken its 50-day moving average as we get set to begin the last trading day of August. (For reference, the black, vertical “N” line represents each sector’s 50-day moving average. The dot represents where each sector is currently trading, while the tail end represents where it was trading one week ago.)
While the S&P is back above its 50-day, some key cyclical sectors remain below their 50-days. These include Consumer Discretionary, Energy, Financials, and Industrials. Fortunately, both Health Care and Technology — the two largest sectors — are solidly back above their 50-days
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/s-breadth-not-quite-caught-up/
