Underlying breadth obviously took a hit after Friday’s big sell-off, and below is an updated look at where one popular breadth measure currently stands.  For the S&P 500 as a whole, 33.8% of stocks are currently trading above their 50-day moving averages.  Seven of ten sectors have readings lower than that, however.  No stocks in the Telecom or Utilities sectors are currently above their 50-days, while just 5.6% of Consumer Staples stocks are above their 50-days.  Health Care has a reading of just 14.3%, Consumer Discretionary is at 24.4%, and Industrials is at 26.9%.

The three sectors with stronger-than-market readings are Energy, Technology and Financials.  The fact that Tech and Financials have strong readings is a positive because they’re the two biggest sectors of the market.  Market bulls would like to see more participation from the rest of the market, however.



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