The best stock-market rally since 1935 has pushed 93% of the stocks in the S&P 500 above their 200-day moving averages. As upward momentum builds on the market, could some of the laggards be poised to pop?
A screen of the S&P 500 reveals that about two thirds of its components are currently trading above their shorter term moving averages which are in turn above their longer term averages (Yesterday's close > 50-day avg > 100-day avg > 200-day avg). Back in June, many Wall Street technicians were pointing out the first of the Golden Crosses when the 50-day averages crossed above the 200-day averages.
>>> Best Performing Stocks of the Rally
Only 7% of the S&P 500 did not have its 100-day avg above its 200-day avg. Of these 36 companies, only 5 have their 50-day averages within 5% and their 100-day within 8% of their 200-day moving averages. Only one of the five has just seen its 50-day avg cross above its 200-day but still has not seen its 100-day cross over. Here is a look at those companies.
Time Warner Cable: TWC's 50-day recently crossed its 200-day but has yet to have its 100-day avg cross above the 200 day.
Percent change since March Low: 106%
Year-to-date (YTD) % Change: -35%
Spread between 50 and 200-day MA: Already above
Spread between 100 and 200-day MA: 6%
Sector: Consumer Discretionary