Percentage of Stocks Trading Above 50-Day Moving Averages
Bespoke Investment Group
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Below we highlight the percentage of stocks in each sector that are trading above their 50-day moving averages. As shown, the S&P 500 just cracked back above 50%. Over the last year, every time it has risen above 50%, it has gotten up to about 80% before reversing and heading lower again.
Sector rotation is clearly shown in the charts below. The Energy sector had been the only one holding up relatively well prior to the mid-July lows, however, now only 3% of stocks in the sector are above their 50-days.
On the other hand, Financials, Industrials, both Consumer sectors and Health Care have moved well off their lows. Currently, Health Care has the highest percentage at 85%, which is just below its high of 88% reached last October. Along with Energy, Utilities, Telecom, Materials and Technology all have less than 50% of their stocks trading above their 50-days.
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