Market Breadth Update

Quite a week as both the $SPX and $INDU broke through their 50-week simple moving averages. Breadth (percentage of stocks above 200 SMA) took one on the chin in every single index and sector that I follow. I’ve decided to include a quick synopsis of the damage in the chart below. You can see that the utilities ($XLU) took the largest hit with nearly a 55% decline. Healthcare ($HLV) manged to escape the carnage with an 8.7% decline in breadth.