Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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51.39% (-2.60% 1wk)
Status: Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -2.60% this week.
Therefore, the overall combined average is at 51.39% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The overall combined average continued its recent downward move. Extending its decline below its 20 day MA to -5.56% and to -5.14% below its 50 day MA (signal line). So with the breakdown below the swing low and increased distance from the key MAs, the status now is a Difficult Environment.
The Point and Figure (P&F) chart (shown above) added a further O to its current column of Os this week, and so the P&F strategy remains to Defense (as it is in a column of Os), and P&F Bear Confirmed status 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.