Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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51.28% (+3.70% 1wk)
Status: Neutral/Positive Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +3.70% this week.
Therefore, the overall combined average is at 51.28% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The overall combined average started the week strongly and made the high for the week at 51.87% on Tuesday, before pulling back and consolidating into the end of the week. It's currently 6.04% above its 20 day MA, and just edged above its 50 day MA (signal line) by +0.57%. So the status remains on a Neutral Environment to start the new week, with a slight positive leaning.
The Point and Figure (P&F) chart (shown above) continued higher, making a double top breakout on Tuesday and adding 2 Xs to the current column of Xs, and so the P&F strategy remains on Offense (as it is in a column of Xs), and changed to P&F Bear Confirmed status in the middle of the field with the breakout earlier in the week.
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.