From Bespoke Investment Group:
As we noted on Tuesday, breadth as measured by the cumulative advance/decline line has not yet confirmed the market's recent rally to new highs. The same holds true for another breadth indicator that tracks the percentage of stocks trading above their 50-day moving averages.
At prior highs during the current bull market, the percentage of stocks trading above their 50-days moved up to the 80%-90% mark. Currently, just 72% of stocks in the S&P 500 are trading above their 50-days, so less stocks have participated in the recent run-up.
In the Financial sector...
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