S&P 500 market breadth deteriorating with fewer stocks driving gains; 44% above 50-day MA, lowest since April.
Macro & Markets ·
The S&P 500's market breadth has weakened significantly, with just 44% of stocks now trading above their 50-day moving average, marking the lowest level since April and a 14 percentage point decline since mid-August. The percentage of S&P 500 stocks above their 200-day moving average has similarly fallen 10 points to 64%, its lowest since June. Over the same period, the equal-weighted S&P 500 index dropped 2.9% compared to a 1.4% decline in the broader index, indicating that fewer stocks are driving overall market gains.