We’re now at the point whereby 90% of the S&P 500 has rallied above its 50-day moving average. Which means you simply had to own stocks, any stocks, to feel like a genius lately. As shown below courtesy of Bespoke, this metric spiked hard over the last two months:
Looking at individual sectors, Bespoke has found that 97% of financial stocks are now above their 50-day moving averages, while only 75% of energy stocks are. Industrial stocks, which tend to lead recoveries, are all above their moving averages (100% of those within the S&P 500).
Perhaps it’s time for this S&P 500 run to take a breather:
Business Insider Emails & Alerts
Site highlights each day to your inbox.