Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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41.90% (-11.31% 1wk)
Status: Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -11.31% this week.
Therefore, the overall combined average is at 41.90% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The overall combined average decline accelerated this week, breaking below the recent price range, and so changed the status to a Difficult Environment at the lower edge of the Neutral zone (40% to 60% range).
The Point and Figure (P&F) chart (shown above) declined by a further 10 Os, and so the P&F strategy remains on Defense (as it is in a column of Os), and P&F Bear Confirmed status in the lower-middle of the field. Which is the lowest percentage of 2024.
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.