MW: 40% of S&P 500 trading above their 50-day moving averages
With Thursday’s rally, 40% of stocks in the S&P 500 were trading above their 50-day moving average, according to Bespoke Investment Group.
Energy sector stocks are lagging, with only 7% above the 50-day moving average, while the utility sector has more than 70% of its members trading above the 50-day moving average.
The technology, consumer discretionary and consumer staples sectors all have more than 50% of their member trading above their 50-day moving averages.
