Percentage of Stocks Above 50-Day Moving Averages Back Below 10%

Hickey and Walters (Bespoke) submit: The S&P 500 broke above its 200-day moving average today and crept back into positive territory for the year. The percentage of S&P 500 stocks trading above their 50-day moving averages, which is one measure of underlying breadth, is now at 39%.

Hickey and Walters (Bespoke) submit: As shown below, the percentage of stocks in the S&P 500 above their 50-day moving averages is at its lowest level of the current bull market. This means there is no longer a support level for the indicator unless you go back to the March lows.

Hickey and Walters (Bespoke) submit: The market's drop over the past two days has put the percentage of stocks above their 50-day moving averages in the S&P 500 back below 50% down to 43%.

Hickey and Walters (Bespoke) submit: As shown below, during the most recent rally that started in December, the percentage of stocks trading above their 50-day moving averages in the S&P 500 never managed to get back to the highs it saw in April and October 2010.

Hickey and Walters (Bespoke) submit: Below we highlight the current level of the percentage of S&P 500 stocks trading above their 50-day moving averages. After getting down to the lowest levels since late 2008, the indicator has jumped up to 28% after three days of gains this week.

Hickey and Walters (Bespoke) submit: So far this earnings season, 72% of companies have beaten estimates.

Hickey and Walters (Bespoke) submit: S&P 500 companies have been reporting strong numbers this earnings season, but which stocks have reacted the most positively? Below is a list of the 43 S&P 500 stocks that have gained more than 5% on the first trading day in reaction to their Q2 earnings reports.