The percentage of stocks in the S&P 500 trading above their 50-day moving averages hit 93.44% yesterday. Readings this high have only been registered on 0.5% of all trading days since 1990. Below is a chart showing the percentage of stocks above their 50-days since the bull market began in March 2009. In a B.I.G. Tips report just sent to Bespoke Premium and Bespoke Institutional members, we analyze historical extreme readings in breadth to see how the market typically performs in the near term, and we also discuss its longer-term implications for the market as well.
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