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

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68.06% (+0.96% 1wk)

Status: Positive Environment

The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +0.96% this week.

Therefore, the overall combined average is at 68.06% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.

A further small gain for the combined average this week as 2023 comes to an end, keeping it firmly in the "Stage 2 zone" for the broad market (60%+ range) and on a Positive Environment status with it +5.92% above its 20 day MA, and +21.50% above its 50 day MA (signal line). Hence starting the new year in a strong position.

The Point and Figure (P&F) chart (shown above) added a further 1 X to its column of Xs this week, and so the P&F strategy remains on Offense (as it is in a column of Xs), and the P&F status continues on Bull Confirmed status in a Strong field position in the upper-middle range. But note that it's approaching the upper zone, which while it denotes a strong market, it does also indicate increasing risk. 

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.