Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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60.12% (+6.00% 1wk)
Status: Tentative Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +6.00% this week.
Therefore, the overall combined average is at 60.12% 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 improve this week closing +7.82% above its 20 day MA and +7.65% above its 50 day MA (signal line), moving it back into potential positive territory, but I use the word tentative, as its still below the early August collapse in the moving average breadth, and thus has more to do to prove itself yet, as with defensive sectors of Utilities, Real Estate and Financials leading it doesn't suggest a huge amount of confidence currently in the market.
The Point and Figure (P&F) chart (shown above) added a further 3 Xs to its current column this week. So the P&F strategy remained on Offense (as it is in a column of Xs), with the P&F status remained on 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.