Market Breadth Continues to Show Strength
As of the close yesterday, 67% of stocks in the S&P 500 were above their 50-day moving averages. This is the highest level of the year for the breadth indicator, even though the index itself has not made new highs. While spikes in this number typically signal that some short-term declines might be in store, it's longer-term implications are a positive for equity markets, since a majority of stocks are beginning to break out of their downtrends.
This indicator can be tracked weekly for the S&P 500 and its ten sectors at Bespoke Premium.
and how many are still below there 200 day? well aapl and ge have cross.
Posted by: jay | April 04, 2008 at 01:12 PM
It's at 34%
http://stockcharts.com/h-sc/ui?s=$SPXA200R&p=D&yr=3&mn=0&dy=0&id=p42932071503
Posted by: Damian | April 05, 2008 at 05:03 PM
more like 65 below the 200 and the ones that are doing well are ones that make something of value
Posted by: jay | April 06, 2008 at 11:10 AM