Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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54.12% (+7.22% 1wk)
Status: Neutral Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +7.22% this week.
Therefore, the overall combined average is at 54.12% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The combined moving average breadth continued to rebound this week closing just above its 20 day MA by +0.80% and +2.33% above its 50 day MA signal line. So the rebound from the recent swing low has recovered around 50% of the loss from the recent highs and thus it would be considered a Neutral Environment currently.
The Point and Figure (P&F) chart (shown above) reversed to a column of Xs on Tuesday 13th and went on to add a further 3 Xs by the end of the week. So the P&F strategy returned to Offense (as it is in a column of Xs), with the P&F status changed to Bear Correction in the middle of the 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.