Earlier this week , we talked about how there was something weird happening with the stock market. Let's just say the vibes are still a bit off as Friday's open approaches. On Thursday, 324 S & P 500 stocks closed lower on the day. That marks the ninth straight day of negative breadth for the benchmark — the longest such streak going back to September 2001, according to Bespoke Investment Group.
's Jonathan Krinsky noted that about 60% of S & P 500 components were trading below their 50-day moving average. That has improved slightly through Thursday's close — now 52% of stocks are below the short-term technical measure, though it's still not great. Historical performance after such bad breadth is somewhat mixed.
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