Market internals are currently at levels typically followed by short-term rallies. As of yesterday's close, just 11% of stocks in the S&P 500 were above their 50-day moving averages. As shown in the chart below, this low of a reading has only happened a couple other times this year, and it did not last long.
On a sector basis, three currently have no stocks above their 50-days -- Industrials, Energy and Telecom. Technology is at 3%, Health Care is at 4%, and the Materials sector is at 7%. The Consumer Staples sector is the healthiest at 34%.
How about do a article about gdp to market cap of the global stock markets?
Posted by: The Hammer | October 03, 2008 at 11:56 AM