Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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59.30% (+0.98% 1wk)
Status: Neutral Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +0.98% this week.
Therefore, the overall combined average is at 59.30% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined average edged higher, and closed the week slightly above its 50 day MA (Signal Line), which technically changes the status to Positive. But at only +0.41% above it, it's still very much on the borderline, so I'm keeping the Neutral Environment status in place to start the new week.
The Point and Figure (P&F) chart (shown above) was once again unchanged this week, remaining in Xs, and so the P&F strategy remains on Offense (as it is in a column of Xs), and the P&F status continues to be on Bear Correction status in the upper-middle range.
So as per the previous few weeks. From its current position, a close above 60% would make a double top breakout, and change to Bull Confirmed, and a close below 52 would change it to Bear Confirmed. So it remains in a very neutral spot currently, with the field position still leaning slightly on positive side at the moment.
See the Bullish Percent article for more information on the P&F statuses.
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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.