92% of US Financial Stocks Are Above 50-Day Moving Average and Other Market Internal Stats

For the past couple of months, and especially since the US presidential election, US financial stocks have been on a great run. On an equal-weighted basis, US mid and large cap financial stocks are up a scorching 16.7% over the past 50 days. This group is out pacing the second best performing sector, materials, by over 5% and is outperforming the average US stock by 10%. To add another layer of perspective, over the past 50 days US health care stocks are actually down over 1%.

This impressive nominal performance has led to some frothy market internal statistics. For example, 39% of US financial stocks have made new 50-day highs compared to just 15% of all US stocks. Only 5% of energy and health care stocks have made new 50-day highs.