Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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52.18% (-8.69% 1wk)
Status: Neutral / Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -8.69% this week.
Therefore, the overall combined average is at 52.18% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The overall combined average once again failed to breakout from the multi-month range, and dropped back through the key MAs to end the week near the recent lows. So it's currently -4.02% below its 20 day MA, and -4.58% below its 50 day MA (signal line). So the status remains on a Neutral Environment, but with proximity to the recent lows and being back below its key MAs, means its leaning more towards a Difficult Environment again.
The Point and Figure (P&F) chart (shown above) reversed back to a column of Os, and so remains below the resistance level at 62%. But the column reversal changes the P&F strategy back to Defense (as it is in a column of Os), and P&F Bear Confirmed status in the middle of the field.
To turn to offense again, it would need to close above the 60% level, but to turn positive it would need to clear the 62% level to make a quadruple top breakout.
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.