Just 25% of S&P 500 stocks reportedly trade above their 50-day moving average

The Kobeissi Letter reported on September 29 that 25% of S&P 500 stocks were trading above their 50-day moving average, down from 70% in mid-August. It said 47% were above their 200-day average, also the lowest share since April 2. The account said NYSE stocks hitting new 52-week lows outnumbered those hitting new highs on September 28 for a 10th consecutive trading day.