Monday, June 06, 2011

Market Is Looking Oversold

The S&P 500 Index has generated a negative return in each of the last five weeks and has started the sixth week on a down note. From a technical perspective the market appears oversold.

The percentage of stocks selling above their 50 day moving average has fallen to levels last seen during the March lows earlier this year. After the close today only 24% of S&P 500 stocks are trading above their 50 day moving average compared to 27% in March. Additionally, the percentage of stocks trading above their 150 day moving average is at a level last seen in the third quarter of 2010.

From The Blog of HORAN Capital Advisors

From The Blog of HORAN Capital Advisors

From The Blog of HORAN Capital Advisors


No comments :