The S&P 500 has pushed its way back above its 200-day moving average, but even after a 4-day winning streak, it couldn't quite get out of oversold territory (more than one standard deviation below its 50-day moving average). Five sectors have managed to work off oversold levels this week, however -- Consumer Discretionary, Consumer Staples, Financials, Health Care and Materials. While we've seen a nice bounce off the lows, all ten sectors remain below their 50-day moving averages (the black vertical line in the chart below).
If you are an investor who is looking for new stock ideas? Each week we publish "the Bespoke 50," a list of our favorite growth stocks in the Russell 3,000. To make the list of 50, a stock must have strong earnings growth prospects along with an attractive price chart based on Bespoke's proprietary fundamental and technical analysis.
The "Bespoke 50" is released on a weekly basis, and in it you'll find the 50 stocks that made the cut, price charts for each of them, and an Excel file that you can download as well.