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The following chart shows these percentages for the stocks in the S&P 500 Index. The most obvious features are the negative divergences that persist in all time frames. In this case the divergences show that as the market moves higher, fewer stocks are participating in each new high. The divergence for Stocks Above Their 200-EMAs index is not severe, and the index is in the middle of the overbought range it has maintained all year long. 

The shorter time frames (20-EMA and 50-EMA) have more severe short-term divergences. While these divergences can be eliminated if the market continues higher, they do cause concern at present.