S&P 500 Rally Thins and It's Worrying Market Analysts
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Trouble is brewing in an indicator measuring how many companies are keeping the stock market aloft in the U.S., just as the Standard & Poor’s 500 Index threatens to give up gains for the year.
About 59 percent of stocks closed above their 200-day moving averages at the end of last week, the lowest percentage in eight months, according to data compiled by Bloomberg. Waning breadth is holding back a version of the equity gauge that strips out market-value biases, the S&P 500 Equal Weight Index, which is down 0.4 percent since March.