More S&P 500 stocks are trading below their 200-day MAs than their 50-day MAs
The primary negative influences on copper: Tyler Richey, editor of Sevens Report Technicals Quoted in MarketWatch
More S&P 500 stocks trade below 200-day moving average than 50-day moving average
“The fact that more S&P 500 stocks are trading below their 200-day MAs than their 50-day MAs continues to support the case that the rally off the April 2025 lows remains a countertrend move in an otherwise still downward-trending market,” Tyler Richey, editor of Sevens Report Technicals, wrote in a Monday note.
Using the 2022 bear market as a guide, a test of the 50% level in the percentage of S&P 500 companies that are trading above their 200-day moving average “should not come as a surprise ahead of another washout as initial attempts to find a bottom in this bear market commence,” Richey wrote.
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