As shown below, 42% of stocks in the S&P 500 are currently trading below their 50-day moving averages. This is just below the 43% reading seen at the bottom back in October, so things don't currently look great from a breadth perspective.
Tomorrow is one of those days that we see maybe 4 or 5 times a year where the market just gets pounded with information overflow. Not only does the market have to digest more than 50 earnings reports, but it has to digest the Geithner/Paulson testimony, New Home Sales, the FOMC decision, the Apple Tablet, and last but not least, President Obama's first State of the Union address. Get ready, because it's going to be a very active day!
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