Only 25% of S&P 500 stocks trade above 50-day average, lowest since April 2
In brief
- Only 25% of S&P 500 stocks trade above their 50-day moving average, per The Kobeissi Letter.
- The reading is the lowest since April 2, according to CoinDesk's live markets blog.
- The share stood at 70% in mid-August, a sharp deterioration in market breadth.
- CoinDesk said the crypto market remains in relatively good shape, without citing a figure.
From 70% to 25%
The share of S&P 500 stocks trading above their 50-day moving average fell to 25%, according to figures from The Kobeissi Letter cited by CoinDesk. In mid-August, that number was 70%.
That's a steep slide.
The 25% reading is the lowest since April 2, per The Kobeissi Letter. CoinDesk's live blog (which doesn't carry a byline) called the move a sharp deterioration in market breadth. Put simply, fewer stocks are holding above their 50-day average, even though the index is still reported as one number.
Where crypto sits
The same CoinDesk blog said the crypto market is "still in relatively good shape." It didn't attach a figure to that view, and it didn't credit it to a named analyst or firm, so it's best read as the blog's own qualitative take rather than a measured data point.
Readers looking for specifics on crypto positioning won't find them in that line. The breadth numbers, on the other hand, are concrete, attributed and dated to a clear comparison point (mid-August at 70%, the April 2 low as the prior benchmark).
