Stocks Way Oversold by One Measure

By on July 2, 2010

Bespoke Investment Group showed how badly stocks are being shunned by investors by looking at the percentage of S&P 500 stocks trading above the 50 day moving average. Currently only 4% of stocks are above their 50 day moving average; which is actually lower than the level achieved at the bottom in March 2009.

Click on chart for larger image:

Source: Bespoke Investment Group
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