FYI: Below is a look at the average stock’s distance from its 50-day moving average using the new GICS sector re-classifications that were made earlier this week. As shown, the average stock in the broad S&P 500 is 1.08% above its 50-day moving average, while Health Care stocks are the most extended at +3.92%. Four other sectors have readings above the overall average — Industrials, Energy, Technology, and the new Communication Services sector.
On the downside, there are three sectors with negative readings. The average Real Estate stock is 2.14% below its 50-DMA, which is the weakest of any sector. Utilities and Financials are the two other sectors in the red.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/new-sp-500-sector-breadth-levels/
