Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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47.57% (+8.99% 1wk)
Status: Neutral Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +8.99% this week.
Therefore, the overall combined average is at 47.57% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The overall combined average rebounded this week, and regained 99% of the previous weeks decline to close back at the top of the recent range and 4.35% above its 20 day MA, and -3.82% below its 50 day MA (signal line). So the status changed back to a Neutral Environment.
The Point and Figure (P&F) chart (shown above) had yet another reversal to a column of Xs, and so the P&F strategy changed back to Offense (as it is in a column of Xs), and P&F Bear Correction status in the lower-middle of the field. So is in a very neutral overall field position, but very close to the top of the range.
A close above the 48% level would be a P&F Double Top Breakout pattern, and hence would change the P&F status to Bull Confirmed. Or if it drops back below 40%, then it would move back to Bear Confirmed again.
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.