Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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60.86% (+9.48% 1wk)
Status: Neutral Environment / Tentative Positive)
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +9.48%% this week.
Therefore, the overall combined average is at 60.86% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The overall combined average had a powerful rebound this week, swinging back through its key MAs and towards the top of the three month range. But it didn't manage to breakout.
It's currently +3.56% above its 20 day MA, and +4.44% above its 50 day MA (signal line). So the status has flipped back to a Neutral Environment, but from its current position it could move into positive early in the new week – if the strength persists.
The Point and Figure (P&F) chart (shown above) reversed to a column of Xs on Wednesday, but remains below the resistance level at 62%, and so the P&F strategy changed to Offense (as it is in a column of Xs), and P&F Bear Correction status in the middle of the field.
It would need a daily close above the 62% level to make a triple top breakout, and move to Bull Confirmed status, and close below 54% would reverse it to a column of Os again.
See the Bullish Percent article for more information on the P&F statuses.
Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.