Thursday, July 2, 2009

Market

The market has sent the percentage of stocks above their 50-day moving averages in the S&P 500 back below 50%. Currently, 45% of stocks are above their 50-days. The worst sector is Energy. Just 8% of Energy stocks are above their 50-days. Industrials is the second worst at 22%. Fund managers chasing the rally realized that fundamentals matter.

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