S&P 500 Breadth Improves Sharply as 61% of Stocks Trade Above Their 50-Day Moving Average, the Highest Since...

U.S. equity market breadth is rapidly improving. The proportion of S&P 500 stocks trading above their 50-day moving average rose 5 percentage points on Friday to 61%, the highest reading since mid-August. Since the October 1 intraday low, this figure has more than tripled.
The proportion of S&P 500 stocks trading above their 200-day moving average rose 3 percentage points on Friday to 57%, the most since September 9. Over the last 3 weeks, this figure has risen 17 percentage points, even as the S&P 500 remained roughly unchanged. This ranks among the 3 sharpest improvements in market breadth over the last 3 years.
On Thursday alone, 335 S&P 500 stocks finished higher, despite the index declining 1.2% that day.
The post says the market is strengthening beneath the surface.