The chart above shows the percentage of stocks currently trading above their 200-Day Moving Average, basically the average price over the past 200 trading days. As you can see, a mere 5% of all the stocks traded on the NYSE are above this level.


This chart shows that less than 3% of all the stocks traded on the NYSE currently trade above their 50-Day Moving Average. These are very rare readings indicating that the current selloff is universal.

The last time these indicators showed such extreme readings was late July 2002. At that time the stock market responded by rallying more than 20% over the following month.