Below we provide an update of our charts that show the percentage of stocks above their 50-day moving averages in the S&P 500 and its ten sectors. As shown, the level remains at 80% for the entire S&P 500, and it hasn't been able to reach the highs seen during prior rallies over the past year.
Three sectors have more than 90% of stocks above their 50-days, and it may be surprising to see that the Financial sector is one of them at 93%. The Industrial sector has the highest reading at 98%, while Energy is at 95%. The two Consumer sectors and Utilities have the weakest breadth readings at the moment. Consumer Discretionary is at 66%, Consumer Staples is at 59%, and Utilities is at 47%.
