Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined

37.48% (-3.93% 1wk)

Status: Neutral Environment – Borderline Stage 4 / Stage 1 zone

The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) pulled back this week, closing the week with a -3.93% decline over the prior week.

The overall combined average now stands at 37.48% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages, which is in lower-middle zone still.

The pullback depth was around a third of the prior weeks gains, which meant that the overall average has managed to hold above its short-term 20 day MA by +4.06%, but it still remains below its own 50 day MA signal line, which it has extended a bit further below with this weeks decline, and is now at -11.27% below it, and thus would need to move above 48.76% currently to return to a positive environment status.

Therefore, the status has remained the same this week on a Neutral Environment status, but with the drop it is technically back in the Stage 4 zone (Below 40%), but it is on the borderline between the Stage 1 and Stage 4 zones.

The Point and Figure (P&F) chart (shown above) had no change this week, and so remains on a column of Xs, which keeps it on Offense, and the P&F status remains on Bear Correction status

So as with last weeks post it suggests putting the Offensive team on the field and cautiously testing it on the long side. i.e. progressive exposure. As your team has the ball, but you are still deep in your own half of the field. 

Become a Stage Analysis Member: 

To see more like this and other premium content, such as the regular US Stocks watchlist, detailed videos and intraday posts, become a Stage Analysis member.

Join Today

Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.