As we noted in yesterday’s Sector Snapshot, if you were to pick out any one stock in the S&P 500, odds are it would be above its 50-DMA.  Currently, 96.24% of S&P 500 stocks are above their 50-DMAs.  On a sector basis, Consumer Discretionary, Energy, Industrials, and Materials all have 100% of their stocks above their 50-DMAs.  That is a huge share of the index sitting above their 50-DMAs at once.  As shown in the chart below, times in which there have been this many stocks above their 50-DMAs have been few and far between.  Of all days since the start of 1990, there have only been four other days with a reading as high or higher than the current 96.24%.  The most recent of these was March 5th, 1991 when 96.59% of the index was above its 50-DMA. Other than that, only February 11th through 13th of that same year saw these types of readings (97.4%, 96.6%, and 97.8%, respectively).  Start a two-week free trial to Bespoke Institutional to access our Sector Snapshots and much more.

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