Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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58.79% (-1.65% 1wk)
Status: Neutral Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -1.65% this week.
Therefore, the overall combined average is at 58.79% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The overall combined average pulled back to its 20 day MA, but rebounded once more on Friday. But it remains within the tight recent range, a short distance above its 20 day MA and 50 day MA. So it's still in a very neutral position, but with a slightly positive leaning at the moment, as it's held above its key MAs on the last few tests.
The Point and Figure (P&F) chart (shown above) was again unchanged this week, and so the P&F strategy remains on Offense (as it is in a column of Xs), and P&F Bear Correction status in the middle of the field. With the price sitting just under the prior pivot high. So a close above the 62% level would make a double top breakout, and hence would change it to Bull Confirmed, and reversal would occur on a close below the 54% level.
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.