Utilities Keep Flipping The Breadth Switch

The Utilities sector of the S&P 500 slid 0.98% yesterday, making it the index’s worst-performing sector. Just 5 of 31 member stocks finished higher as the percentage of stocks trading above their 50-DMAs sank from 93.5% to 67.7%, a one-day drop of 25.8 percentage points. Although sharp breadth improvements have been more common than usual this year, they have still been outnumbered two to one by equally sharp deteriorations, which have been nearly as common as ever.