Percent of Stocks Above 50-Day M.A. By Index
It’s seems to be a very popular way of looking for overbought and oversold conditions within sectors, industry groups, and indexes. I’ve calculated the percentages for a few indexes today. Is one more oversold than another and does it matter? Click on the charts to make full size:
KBW Bank Index:
Dow Utilities:
Dow Transports:
Dow Industrials:
And finally the S&P 500
Oversold enough for a rally?
ETF Range Projections & A Quote to Start the Day
Experience hath shewn, that even under the best forms of government those entrusted with power have, in time, and by slow operations, perverted it into tyranny.
- Thomas Jefferson
For more detailed economic data click “Today’s Calendar” in the navigation bar to the left. 
A reversal of sorts overseas this morning with most averages up nicely: Nikkei 225 +0.07%, Hang Seng +1.17% , Shanghai +1.36%, DAX +1.24%, and the FTSE 100 +0.82%
At about 7:40 AM ET ahead of the housing starts and PPI the futures are higher with the notable exception of Gold: Dow +32 S&P +4.5, NAZ +9.9, Oil +$1.82 and Gold -$17.80
