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

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49.45% (-8.78% 1wk)

Status: Difficult Environment (status change)

The US Total Percentage of Stocks above their 50 Day, 150 Day & 200 Day Moving Averages (shown above) decreased by -8.78% this week.

Therefore, the overall combined average is at 49.45% in the US market (NYSE and Nasdaq markets combined) above their short, medium and long term moving averages.

The negative status change came on Wednesday, with the combined average dropping sharply back below its 20 and 50 day moving averages, and then followed through to the downside on Friday, closing at -8.93% below its 20 day MA and -7.70% below its 50 day MA (signal line). So it's now on Difficult Environment status. 

The Point and Figure (P&F) chart (shown above) declined by a further 4 Os this week, which made a triple bottom breakdown on Friday, and so the P&F strategy remains on Defense (as it is in a column of Os), but the P&F status changes to Bear Confirmed status in the middle of the playing field.

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.