Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined

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59.15% (+12.82% 1wk)

Status: Positive Environment

The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +12.82% this week.

Therefore, the overall combined average is at 59.15% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.

This week saw a huge reversal on Thursday in the combined moving average breadth, with it rebounding strongly through its 20 day and 50 day moving averages, and closed the week +11.04% above its 20 day MA and +7.47% above its 50 day MA (signal line). Thus, we have a status change to a potential Positive Environment with the field position improving to just under the strong zone (60%+).

The Point and Figure (P&F) chart (shown above) had a sharp reversal higher on Thursday to a column of Xs. Gaining 5 boxes, and then followed through on Friday with a further box. So a 12%+ change in a week, which saw it make a double top breakout through the 56% level that had been in place since May, and so the P&F strategy changed to Offense (as it is in a column of Xs), and the P&F status is on Bull Confirmed status in the upper-middle of the playing field.

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.