Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
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42.36% (+4.87% 1wk)
Status: Neutral Environment – Stage 1 zone
The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) rebounded by +4.87% this week to regain all of the prior weeks pullback.
The overall combined average now stands at 42.36% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages, which is in lower-middle zone.
The overall average continues to hold above its short-term 20 day MA for an eleventh day by +6.39%, but it still remains below its own 50 day MA signal line. However, the gap has closed to only -4.13%, and so it's now within reach and hence opens the possibility of a change in status to a Positive Environment. But there's no guarantee that it will. But the level to overcome currently is 46.48%.
So with the combined average in between its 20 day MA and 50 day MA, the status remains the same this week on a Neutral Environment status, and has returned into the Stage 1 zone (Between the 40% and 60% range).
The Point and Figure (P&F) chart (shown above) added one X to its current column this week, which keeps it on Offense (as it's in a column of Xs), and the P&F status remains on Bear Correction status
So the Offensive team remains on the field, but with the field position, cautious testing of the long side. i.e. progressive exposure seems prudent. As your team has the ball, but remains deep in your own half of the field.
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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.