S&P 500 70% above 200D MA, but falling
S&P 500 vs its stocks above the 200 day MA: Bottom chart shows the S&P since 2008. The recent run up on the chart hides many of the details on this weekly chart. The chart on top, tracks the percentage of stocks above their 200 day Moving average for stocks that make up the S&P 500.
In April of 2021, 96% of the S&P stocks traded above their 200 day MA. Currently the moving average is catching up to the basket of stocks as just over 70% remain above their 200 day MA. Something I watch for is a break below 70% shows a good chance the S&P can see a 5%-10% minimum correction. It has been over a year since we last saw a 10% correction….
September and October can be choppy for all markets. Lets hope that if we get a correction, it respects the 5%-10% move….
In April of 2021, 96% of the S&P stocks traded above their 200 day MA. Currently the moving average is catching up to the basket of stocks as just over 70% remain above their 200 day MA. Something I watch for is a break below 70% shows a good chance the S&P can see a 5%-10% minimum correction. It has been over a year since we last saw a 10% correction….
September and October can be choppy for all markets. Lets hope that if we get a correction, it respects the 5%-10% move….
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