March 18, 2010

Very Little Upside: 85% Of Stocks Above Their 50 Day Moving Averages

According to this research piece provided by Bespoke Investment Group it seems there is very little room for a continuation of the rally in the S&P 500:

"The most recent push higher by the market has put the percentage of S&P 500 stocks above their 50-day moving averages at 85%. As shown below, at these levels, there really hasn't been much more room to run on the upside before a short-term pullback (or at least sideways trading) has been seen."

Related ETF`s: SPDR S&P 500 ETF (Public, NYSE:SPY), ProShares UltraShort S&P500 (ETF) (Public, NYSE:SDS)

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