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

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64.10% (+4.54% 1wk)

Status: Positive Environment

The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) increased by +4.54% this week.

Therefore, the overall combined average is at 64.10% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.

Continued improvement in the combined average this week, with particular strength in the Small Caps, as 3.01x as many stocks had positive technical attributes improvement in the S&P Small-Cap 600, compared to negative technical attributes move. Whereas the large caps were still weighted towards the positive side, but less so with only 1.91x as many in the S&P 500 Large Caps.

So with that, last weeks tentative move into positive territory for the MA breadth was strengthened, as the overall participation broadened out, and so the status has been updated to a Positive Environment with the overall average moving higher into the Strong Stage 2 range (60%+).

The Point and Figure (P&F) chart (shown above) added a further 2 Xs to its current column, following the previous weeks double top breakout and so the P&F strategy remains on Offense (as it is in a column of Xs), and the P&F status remains on Bull Confirmed status in the upper-middle range to start the new week.

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.