The recent market rally has left 71% of stocks in the S&P 500 above their 50-day moving averages, and just three sectors have breadth readings below the broad market's reading -- Energy at 14%, Materials at 46.7% and Consumer Discretionary at 65.5%.
Utilities and Consumer Staples -- both defensives -- have the highest breadth readings. 93.3% of Utilities stocks are above their 50-days.
It's good to see sectors like Financials, Industrials and Tech back to "better-than-market" breadth levels. Be careful out there in the near-term, though. It's tough to sustain readings in the high 80s for long periods of time.
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must! gtsourdinis
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