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

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57.30% (-4.75% 1wk)

Status: Neutral Environment

The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -4.75% this week.

Therefore, the overall combined average is at 57.30% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.

The pullback in the moving average breadth continued into the middle of the week, and dropped below its 50 day MA for a single day, before rebounding on Thursday and Friday. It's currently -6.55% below its 20 day MA, and just 1.35% above its 50 day MA, and so it retains its Neutral Environment status to start another week. 

Which is interesting as the major US indexes are pushing to new 52 week highs in Stage 2. But remember, that this is a broad market breadth measure, covering over 5000 stocks in the NYSE and Nasdaq Composite, and so it shows the need to be selective still, and to focus on the most favourable areas of the market.

The Point and Figure (P&F) chart (shown above) reversed to a column of Os this week, and so the P&F strategy changed to Defense (as it is in a column of Os), and the P&F status changed to Bull Correction status in a neutral field position in the middle range.

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.