The S&P 500 (SPY) ETF is up 5.48% since last Thursday’s close. Below we provide a boatload of charts and tables highlighting where equity markets currently stand. If you’d like even more in-depth coverage of markets with Bespoke commentary and analysis included, start a 14-day free trial to our paid research if you have yet to do so, or go ahead and sign up for one of our subscription services now. Enjoy!
Even after a 5%+ rally, the S&P 500 and four of ten sectors remain below their 50-day moving averages. Check out Energy, though. The sector has moved back above its 50-day (for the first time since December 2nd).
The S&P 500 remains down 5.7% year-to-date, but six of ten sectors are outperforming, including Energy which is now down just 3.6% YTD. The three defensive sectors remain the only sectors in the black for the year, while Financials is down by far the most at -11.8%.
Looking at underlying breadth, 97% of Utilities stocks are above their 50-days, with Consumer Staples the next closest at 76%. Financials, Health Care and Technology have the longest road to recovery.
Below is a chart showing the percentage of S&P 500 stocks above their 50-days over the last year:
And our trading range screen for the 30 Dow stocks:
Note that more stocks are now overbought (7) than oversold (6).
Finally, below is our trading range screen for the 30 largest country ETFs traded on U.S. exchanges. Notably, just 3 of 30 remain oversold after a majority were oversold a week ago.