The S&P 500 is trading back above its 50-day moving average for the first time in a couple of weeks. If the index can hold above its 50-day into the close, it will definitely be interpreted as a positive for the market by technicians. And while the index is barely trading above its 50-day, the number of stocks in the index trading above their 50-days is at 61%. This indicates that the underlying breadth of the S&P 500 is a little stronger than the actual price of index itself.
Below we highlight the stocks in the S&P 500 (>$5/share) currently trading the furthest above their 50-day moving averages. As shown, Morgan Stanley (MS) leads the way at 42%, followed by TSO and SVU at 41%. Other notables on the list include HIG, UNH, VLO, and BBY.
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