Market Breadth Back to Lows

by: Bespoke Investment Group posted on: June 27, 2008 | about stocks: IVV / IYZ / SPY / XLB / XLE / XLF / XLI / XLK / XLP / XLU / XLV / XLY    

Below we highlight the percentage of stocks above their 50-day moving averages for the S&P 500 and its ten sectors.  Currently, just 17% of stocks in the S&P 500 are above their 50-days, which is just about as low as breadth has been during the prior lows seen back in August, January and March. 

Eleven percent of Industrials and Materials stocks, 8% of Consumer Discretionary stocks, and just 3% of Financial stocks are above their 50-days.  Those looking to sell, sell, sell this market may want to wait for these oversold levels to at least move back to neutral territory.

click to enlarge

Spx50day

Finlindu50day

Techenrs50day

Condcons50day

Hlthmatr50day 

Utiltels50day

This article has 2 comments! Add yours below...

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This article has 2 comments:

  •  
    Will Rahal
    Jun 28 05:09 PM
    My Website
    The Advancing minus Declining Volume line has also broken to new lows.
    This does not bode well for the stock market, and confirms that my economic indicators pointing to a recession are valid.
    Despite the tax rebate the ratio of ND/Durable Goods consumption keeps rising, allowing for less discretionary spending needed to stimulate the economy

    See

    wrahal.blogspot.com/20...
  •  
    adan
    Jun 28 05:56 PM
    My Website
    nice article, thanks!
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