S&P 500 market breadth deteriorates sharply: only 25% of stocks above 50-day MA, down from 70% in mid-August, signaling potential broader equity weakness.
Macro & Markets ·
The proportion of S&P 500 stocks trading above their 50-day moving average has fallen to 25%, representing a sharp decline from 70% in mid-August and marking the lowest level since April 2nd. Just 47% of stocks remain above their 200-day moving average, also at levels not seen since early April. NYSE new 52-week lows have exceeded new highs for 10 straight trading days and in 14 of the past 15 sessions, indicating widespread weakness across market participants.