Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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36.54% (-7.40% 1wk)
Status: Difficult Environment
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -7.40% this week.
Therefore, the overall combined average is at 36.54% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.
The overall combined average continued lower once more this week, closing the week at -8.40% below its 20 day MA and -9.42% below its 50 day MA (signal line). So the status remains on a Difficult Environment.
The Point and Figure (P&F) chart (shown above) added an additional 4 Os to its current column, making a double bottom breakdown on Tuesday, and so the P&F strategy remains on Defense (as it is in a column of Os), but changed to P&F Bear Confirmed status in the lower half of the field.
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.