S&P 500 Stocks Trading Above their 40 Day Moving Average

This is a chart of how many stocks in the S&P500 Index are trading above their 40 day simple moving average, plotted below a chart of the S&P500 Index.  Areas of strength in this stock market breadth indicator are highlighted with a red background (over bought), and areas of weakness are highlighted with a green background (over sold).

As of right now, 11/28/2008, the indicator is Neutral, with 155 stocks in the S&P 500 index trading above their 40 day simple moving average.  This is similar to the T2107 indicator.