More than 40 stocks in the S&P 500 are trading at least 10 percent above their 50-day moving averages and many stocks in the index are now breaking out. Actually, 60 stocks in the S&P 500 have hit new 52-week highs yesterday.
Many of the stocks making new 52 week highs are on the technology space. Names as Agilent Technologies Inc. (NYSE:A), Akamai Technologies, Inc. (NASDAQ:AKAM), Altera Corporation (NASDAQ:ALTR) and JDS Uniphase Corporation (NASDAQ:JDSU) are on the list.
Financials are less represented with only a few names as Cincinnati Financial Corporation (NASDAQ:CINF). In the healthcare space, Biogen Idec Inc. (NASDAQ:BIIB), Celgene Corporation (NASDAQ:CELG), Intuitive Surgical, Inc. (NASDAQ:ISRG) and Cardinal Health, Inc. (NYSE:CAH) are among the strongest.
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