US Stock Market Internals Update – New Lows Are Spiking by Eric Bush, CFA, Gavekal Capital Blog

With another a significant down day in the works, its worth remembering that these stats are as of the close on Friday. The main takeaway is while there has been some deterioration in the US stock market, we are nowhere near what happened in 2011. Let’s take a look at some stats, like what Bryce did with EM stocks on Friday, and compare current levels to 2011.

26% of MSCI USA stocks are making a new 200-day low. While this is the highest level since 2011, in August 2011 58% of stocks made a new 200-day low and in October 2011 41% made a new 200-day low. And just for kicks, in October 2008 75% of all US stocks made a new 200-day low.

US Stock Market

 

28% of US stocks are also now in a bear market. This is the most since 2012, barely surpassing the level hit 2014. In August 2011, over two thirds of all US stocks were in a bear market.

US Stock Market

13% of US stocks are off by 30% or more from its 200-day high. This is the most since 2011 as well. Only 34% of US stocks are down less than 10% from its 200-day high.

US Stock Market

The median performance over the past year is still positive at 4%. The average performance over the past year is still positive at 2%.

US Stock Market

Lastly, only 34% of US stocks are trading above its 200-day moving average. Somewhat surprisingly, we hit this mark in 2014 as well. In August 2011, only 8% of US stocks were trading above its 200-day moving average.

US Stock Market

US Stock Market